The Commerzbank’s board says it will keep employees’ interests at the forefront while reviewing the announced takeover bid from Unicredit.
In a letter to staff, CEO Bettina Orlopp, quoted by the “Handelsblatt” (Tuesday edition), explained that the board and the supervisory council share a duty to examine the offer once it is published. “We will do so with the proper diligence and responsibility” she said, adding that the interests of all stakeholders – especially those of employees – will be taken into account.
According to “Handelsblatt” several insiders believe that both the board and the supervisory council will ultimately recommend rejecting the proposal. They argue that a hostile takeover would not make sense, that Unicredit is unlikely to deliver the promised synergies, and that the offered price is unattractive for Commerzbank’s own shareholders.
In the same message, Orlopp urged employees to maintain focus on day‑to‑day operations amid the takeover battle. “I can understand that the current situation may worry you” she wrote. “But it should not affect our daily work for the time being. We will continue to work as usual, with full force on implementing our strategy. We remain steadfast in supporting our customers – that is our responsibility and our top priority”.
