BlackRock Takes Big Bet on Commerzbank as Stake Almost Doubles

BlackRock Inc. has amassed a stake of close to 10% in Commerzbank AG over the past three months, almost doubling its holding in a lender seen as a potential takeover target and as one of the biggest beneficiaries from higher interest rates in Europe.

The world’s largest asset manager held 9.3% of Commerzbank’s voting rights as of Monday, up from about 5.4% reported three months ago, regulatory filings show. While much of that probably reflects investments made through passive funds that track indexes, the recent increase was at least in part driven by actively managed BlackRock funds or accounts, people ...