Merz Backs Commerzbank Independence in Letter to Works Council
By and Arno Schuetze
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German Chancellor Friedrich Merz reaffirmed he wants Commerzbank AG to remain independent and opposes a takeover by the Italian lender UniCredit SpA.
The German government is committed to 'a strong and independent Commerzbank,' Merz said in a written response to the leaders of the bank's works council that was published by the body's head, Sascha Uebel, on LinkedIn on Tuesday. Merz labeled UniCredit's approach as 'uncoordinated and unfriendly' and said it was 'unacceptable.'
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