Commerzbank Faces Resistance as Unicredit Advances Takeover Plans

Unicredit seeks regulatory approval for a significant stake in Commerzbank, while the bank's leadership and workers vow to defend its independence.

Unicredit has filed with Germany's Federal Cartel Office to acquire up to 29.99% of Commerzbank, a move also under review by the European Central Bank.
Commerzbank's Betriebsrat (workers' council) chief Sascha Uebel has pledged to obstruct Unicredit's plans, emphasizing Germany's strong labor protections.
The Commerzbank leadership, led by CEO Bettina Orlopp, is focused on maintaining the bank's independence and has initiated a restructuring plan to improve profitability.
The bank has committed to reducing 3,900 jobs through voluntary measures and natural attrition, with no forced layoffs allowed under its current transformation agreement until 2028.
Unicredit CEO Andrea Orcel is expected to face challenges in integrating Commerzbank due to labor agreements and complex IT systems, even if the takeover proceeds.