Germany’s Merz Slams UniCredit’s Bid for Commerzbank Stake
German Chancellor Friedrich Merz has strongly criticized UniCredit’s recent push to gain a stake in Commerzbank.
According to information from Reuters, he described the Italian lender’s effort as “uncoordinated and unfriendly.”
Merz made the comments in a letter dated May 26, now publicly posted by labor council head Sascha Uebel. The letter appeared on LinkedIn and has drawn fresh attention to the cross-border banking tension.
Commerzbank Called a Systemically Important Institution
The Chancellor emphasized Commerzbank’s importance to Germany’s financial stability. “Such a move is unacceptable when it targets a key institution like Commerzbank AG,” Merz wrote.
He supported the German finance minister’s stance, calling for more coordinated and respectful approaches from foreign firms. Merz’s remarks suggest Berlin won’t welcome hostile or unsolicited takeovers in its banking sector.
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