The works council, Commerzbank's employee representative body, has firmly maintained its stance of rejecting any acquisition of control by UniCredit. In a message to employees, the works council stressed that it does not want or need UniCredit, and said it rejects a covert, uncoordinated, and hostile approach. UniCredit announced the previous day that its stake in Commerzbank had risen to 47.6 percent, bringing it one step closer to the control it began pursuing in 2024.
Commerzbank AGWorks council rejects UniCredit control, increasing uncertainty and resistance to the takeover.
UniCredit SpAWorks council opposition signals potential hurdles to UniCredit's acquisition plans.