The Italian insurer GENERALI is to take its stake in the German bank COMMERZBANK from 5 to 10% through a capital increase in several steps. At the same time, the Italian investment bank MEDIOBANCA will increase its shares in the German bank, taking them to 2%, whereas BSCH --BANCO SANTANDER CENTRAL HISPANO is also considering increasing its stake (currently 5%). These operations have as aim to preserve the independence of COMMERZBANK, sought after by the COBRA group of investors which currently holds 17% of its capital.