Germany Maintains Stand Against Hostile UniCredit Takeover

The German government supports Commerzbank's independence despite the federal competition regulator's decision to allow UniCredit to increase its stake. Authorities emphasize that hostile takeovers in critical banking sectors are inappropriate.

The German government has expressed its continued support for Commerzbank's independence, despite the federal competition regulator's decision to allow UniCredit to expand its stake in the German bank. A spokesperson for the economy ministry confirmed this stance on Monday.

At a regular government press conference, the spokesperson underlined Berlin's opposition to what it sees as UniCredit's unilateral and unfriendly approach. The government reiterated its position that hostile takeovers in the banking sector are not suitable, especially for systemically important institutions.

This reaction from Germany highlights the sensitivity and importance it attaches to maintaining control and stability within its banking sector, particularly concerning banks deemed critical to the national economy.

(With inputs from agencies.)