Italian banking group UniCredit has secured a stake in Commerzbank, the German government said on Wednesday. The German state, which last week said it intended to gradually reduce its stake in the Commerzbank, sold a 4.49% of the bank’s shares for around €702 million ($775 million) to Unicredit. The Italians were prepared to pay more than the shares were worth on the stock exchange on Tuesday evening, the German Federal Finance Agency said in a statement. The entire package was allocated to Unicredit due to it “significantly outbidding” all other offers. The allocation price was €13.20 per sha…