Unicredit has increased its stake in Commerzbank to around 28 percent. The Italian big bank announced this on Wednesday. The federal government sharply criticized this step.
“The Unicredit is going ahead unilaterally and with unfriendly methods again” a government spokesperson said at the federal press conference. “Today’s news is noteworthy because Unicredit had previously publicly emphasized that it would not take further action before the federal elections.”
We reject the “unilateral and unfriendly approach of Unicredit” it was said further. “This also applies all the more, as Commerzbank is a systemically relevant bank. Unfriendly attacks and hostile takeovers are not appropriate in the banking sector.”
The government continues to support Commerzbank in its strategy and independence as its largest shareholder, the spokesperson said. “The government sees the plans of Unicredit also critically, as the integration of two large systemically relevant banks always comes with significant risks, including for the employees, especially in the case of unilateral behavior.