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Italy is concerned UniCredit could offer to ‌move its head office to Germany to ease Berlin's opposition to a takeover of Commerzbank , three sources familiar with the matter said, despite the Italian bank ruling that out.

UniCredit (OTCMKTS:UNCFF - Get Free Report)'s share price gapped up before the market opened on Friday. The stock had previously closed at $77.25, but opened at $81.6875. UniCredit shares last traded at $81.6875, with a volume of 279 shares traded. UniCredit Price Performance The company has a current ratio of 0.95, a quick ratio

UniCredit ​said on ‌Friday it had ​no ​plans to liquidate ⁠its ​Russian business ​or return the banking ​licence ​held by its ‌local ⁠subsidiary, which the Italian ​lender ​has ⁠held onto ​during ​the ⁠Ukraine conflict.

Italian bank UniCredit has abandoned plans to sell its Russian unit and is ​considering liquidating the business and relinquishing its ‌banking license in Russia instead, the Kommersant daily reported on Friday, citing unnamed sources.

Italian bank UniCredit said the uncertainty arising from an integration with Commerzbank could cause employees "with fundamental institutional knowledge" ​to leave, potentially leading to client loss for ‌both lenders.