The SPD parliamentary group is strongly opposed to Unicredit’s takeover attempt at Commerzbank.
Frauke Heiligenstadt, the group’s finance‑policy spokesperson, told the “Rheinische Post” on Tuesday that Commerzbank is a systemically relevant bank that consistently proves it can operate very successfully on its own. It is also a major employer in the region.
“Our finance minister, Lars Klingbeil, has repeatedly asked Unicredit to desist from takeover attempts. With the new offer, Unicredit is trying to break the 30 percent threshold and gradually gain more control over Commerzbank” she said. “We reject this attempt, just as the Commerzbank management, the works council, and the federal government have done in the past”.
She added that it is now up to the board and supervisory board to issue a recommendation to shareholders. The SPD parliamentary group stands behind Commerzbank and its employees.
