Germany Seeks Commerzbank Protections
Berlin plans to push UniCredit for job protections and a domestic stock listing as the Italian lender prepares to take over Commerzbank. German officials want to preserve lending for local firms and retain board influence.
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Germany will demand that COMMERZBANK AG maintain its domestic stock listing and protect jobs during takeover talks with UNICREDIT SPA, two people familiar with the matter said on a Monday morning. The push follows an unsolicited acquisition attempt by the Italy-based lender that amassed a stake nearing 50% in Germany's second-biggest bank. A combined entity would hold more than €1.3 trillion in assets across two of the euro zone's largest economies.
