Commerzbank Chairman Doubts Amicable Merger with UniCredit After Stake Acquisition

Commerzbank’s supervisory board chairman, Jens Weidmann, has cast doubt on the possibility of an amicable merger with Italy’s UniCredit following its unexpected purchase of a significant stake in the German bank, according to Reuters.
In an interview with the German newspaper published on Monday, Weidmann compared the situation to a relationship that begins poorly. “It’s like any relationship: if the start is unsuccessful, it will be difficult,” he explained, reflecting the tension between the two financial institutions.
UniCredit now holds a 28% stake in Commerzbank, with 9.5% purchased directly and additional access to 18.5% via financial instruments. Weidmann expressed concerns that such a surprise move, which bypassed any initial trust-building talks between management, would not lead to sustainable value creation. “In mergers, it is important that the management first talks to each other in a spirit of trust and develops a common understanding. UniCredit has decided against this and surprised us with its entry. That’s not good style,” he told Handelsblatt.
Read more: Banco BPM Files Antitrust Complaint Against UniCredit’s Takeover Bid
The supervisory board chairman also emphasized the importance of maintaining two independent large private banks in Germany, citing Deutsche Bank and Commerzbank as critical to the nation’s financial sovereignty. He warned of the consequences of a merger, pointing to the aftermath of UniCredit’s acquisition of HypoVereinsbank and Bank Austria in 2005. “Commerzbank’s footprint in Germany would probably be smaller, and the attractiveness of Frankfurt as a financial center would suffer,” Weidmann stated, adding that many small and medium-sized businesses would be forced to adjust to the changes.
Source: Reuters.
Featured News
UK Business Secretary Calls for More Agile Competition Regulator
Feb 13, 2025 by
CPI
Germany’s Antitrust Regulator Raises Concerns Over Apple’s App Tracking Policies
Feb 13, 2025 by
CPI
$60 Billion Nissan-Honda Merger Falls Apart
Feb 13, 2025 by
CPI
DOJ Moves to End Protections for Three Regulatory Agencies
Feb 13, 2025 by
CPI
Meta to Allow Rivals to List Ads on Facebook Marketplace Following EU Fine
Feb 13, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon