UniCredit Boosts Stake in Alpha Bank to $2.8 Billion

UniCredit SpA increased its holding in Alpha Bank SA to about 29.5%, as Chief Executive Officer Andrea Orcel boosts cooperation with the Greek lender while signaling he’s not aiming at a full takeover bid.

The move follows authorization from the European Central Bank, Milan-based UniCredit said in a statement on Thursday. It’s the latest step following increases in August and May of this year, and brings UniCredit’s stake to around €2.38 billion ($2.76 billion).