Resistance to Unicredit: Commerzbank combines against takeover plans

Commerzbank vehemently defends itself against takeover fantasies of the Italian Unicredit. Employees, management and shareholder representatives used the general meeting of the DAX group in Wiesbaden to confirm their resistance to the enemy approach of Unicredit boss Andrea Orcel.

Commerzbank employees are loudly heard in front of the hall. “No to Unicredit” and “We are better off” alone “. “We want the shareholders to keep their shares and not sell to other investors,” says Verdi union secretary Kevin Voß on the sidelines of the protest, to which Verdi and works councils had called.

Verdi fears in the event that the UniCredit swallows Commerzbank, a “clear cut at the workplaces in Germany” – both at Commerzbank and at the UNICREDIT subsidiary HypoVereinsbank.

Orlopp: Independent Commerzbank has very good perspectives

Commerzbank boss Bettina Orlopp emphasizes in her speech to the shareholders: “It is our big goal to establish Commerzbank as a fixture among the successful European banks.” Of course, the board is “always ready to look at alternative options at any time,” says Orlopp. However, priority has the rapid implementation of your own strategy. Commerzbank wants to save its independence through the dismantling of thousands of expensive jobs and increasing surpluses.

Just a few days ago, Federal Finance Minister Lars Klingbeil (SPD) confirmed that Commerzbank should remain independent as a system -relevant bank from the Federal Government’s perspective. The federal government holds a little more than twelve percent of Commerzbank shares.

Klaus Nieding, Vice President of the German Protection Association for Securities Obsess, warns the federal government to remain steadfast: a takeover “would not be in the interest of Commerzbank, not in the interest of the shareholders, the employees, certainly not and ultimately not in the interest of the German capital market and its company”.

Unicredit boss dissatisfied with the development of Commerzbank

UniCredit used the federal government to exit the federal government in September and is now the second largest shareholder in Commerzbank with access to a total of 28 percent. However, a takeover offer is a long time coming.

Orcel confirmed in the run -up to the Annual General Meeting that the Unicredit could “wait until 2027”. His house will evaluate three things: the exchange of views with the new German government and the question of “whether the management of Commerzbank wants to entertain constructive and bilateral relationships”. “Above all, we will evaluate your results,” said the UniCredit boss.