German Finance Minister Christian Lindner conveyed his concerns about Italian UniCredit’s attempt to purchase Commerzbank’s shares without management approval to the Italian Ministry of Treasury.
This information was provided by two sources close to the subject.
The German government is trying to prevent the Italian takeover of German Commerzbank, which provides financing for medium-sized companies that form the backbone of the German economy.
UniCredit announced this month that it acquired a 9 percent share in Commerzbank, stating that they had plans to acquire more shares and that they wanted to discuss a possible merger.
Commerzbank supervisory and management bodies unanimously stated that they support the bank’s plans to remain independent.
While Commerzbank management, employees and German Chancellor Olaf Scholz opposed a takeover of the bank, at least one major investor and some business executives supported negotiations.
