Germany Opposes UniCredit's Takeover Bid for Commerzbank

Germany has intensified its opposition to UniCredit's potential takeover of Commerzbank. UniCredit CEO Andrea Orcel emphasized the need for broad shareholder backing and discussions with the German government. Despite opposition from Berlin, Commerzbank's management, and trade unions, Orcel asserted that UniCredit is a strategic investor and open to dialogue.

Germany has stepped up its resistance against UniCredit's move to acquire Commerzbank. UniCredit CEO Andrea Orcel has emphasized that any potential takeover would require substantial shareholder backing and government discussions.

Berlin, which holds a 12% stake in Commerzbank, along with the lender's management and trade unions, opposes the deal. A senior German official criticized UniCredit's actions as "aggressive" and "unwise." Nonetheless, Orcel has expressed openness to all options, including divestment.

Orcel stressed that UniCredit's current investment in Commerzbank is merely strategic and that no formal offer is on the table. He indicated UniCredit's willingness to continue engaging in discussions with all stakeholders.

(With inputs from agencies.)