Germany’s Concerns Over UniCredit’s Takeover of Commerzbank

By John O’Donnell

BERLIN (Reuters) – Germany’s finance minister has expressed concerns to Italy’s Treasury about a potential hostile takeover of Commerzbank (ETR:CBKG) by Italy’s UniCredit. This concern is part of a broader effort by Berlin to prevent such a takeover.

Lindner communicated his stance directly to Italy’s Treasury, alongside Germany’s Chancellor Olaf Scholz, who publicly criticized the takeover earlier this week. This move aims to halt a takeover of Commerzbank, which is pivotal for financing Germany’s Mittelstand—its medium-sized firms that are crucial to the economy.

The political pressure has intensified since UniCredit acquired roughly 20% of Commerzbank’s shares, signaling a possible full takeover bid. Discussions for a potential merger initiated on Friday.

Both Germany’s finance ministry and Italy’s Treasury have declined to comment on the situation.