UniCredit met renewed German opposition on Wednesday to its takeover ambitions for Commerzbank after it doubled its voting stake in the rival, pending an Italian court ruling on its bid for domestic target Banco BPM.

Italian lender UniCredit has become the largest shareholder in Frankfurt-based Commerzbank, as its bid to take over Germany's second-largest private bank took a major leap. "Once again, this step has not been agreed with Commerzbank,

German lender Commerzbank said Wednesday it was committed to its strategy after Italian bank UniCredit formally upped its stake in its rival, laying the ground for a potential takeover bid.