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 .

UniCredit is increasing its stake in Commerzbank to 29%, aiming to strengthen its position in Germany’s banking sector. The Italian bank, led by CEO Andrea Orcel, has converted derivatives representing 10% of Commerzbank shares into equity, gaining 20% voting rights. It also holds options on another 9%, making it the largest private shareholder.

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.