.15 February 2024, Hesse, Frankfurt/M.: The lettering "Commerzbank" may be viewed on the Commerzbank Tower in the center of the financial city. Improved by the turn-around in rates of interest, Commerzbank is going for yet another profit rise after a record year. Image: Helmut Fricke/dpa (Photo through Helmut Fricke/picture collaboration through Getty Images) Image Collaboration|Image Collaboration|Getty ImagesTwo-thirds of the projects at Commerzbank can vanish if UniCredit efficiently executes an unfavorable takeover of the German lending institution, a Commerzbank jurisdictional board member notified on Tuesday.Stefan Wittmann, that is also a senior authorities at German field association Verdi, said to CNBC's Annette Weisbach that "we definitely hope we can easily prevent" a dangerous requisition due to the Italian banking company. Witmann pointed out Commerzbank's board had called on the German federal government to carry out an inner review of the achievable takeover, which he really hopes will definitely provide the financial institution a six-month duration to examine the circumstance." However if it [an aggressive requisition] is actually inescapable, we assume that two-thirds of work will certainly disappear, that there are going to be actually another considerable cut in the divisions," he pointed out, according to an interpretation." Our team will certainly view especially that UniCredit carries out not desire all Commerzbank customers at all, but that it concentrates on the apparently ideal clients, particularly the wealthy customers," he added.Berlin, which was actually the most extensive investor of Commerzbank after it administered 18.2 billion euros ($ 20.2 billion) to rescue the finance company in the course of the 2008 economic crisis, is actually most likely to play a vital function in any prospective merger in between the financial institutions." Our team are really concerned with our financial as well as industrial responsibility. Regarding the workforce is concerned, which trade unions are actually certainly especially paid attention to, they would constantly lose in the merging, despite the point," Wittmann pointed out. The banking company possesses however to reply to a request for talk about Wittmann's statements.UniCreditu00c2 revealed Monday it hadu00c2 improved its own risk in the German lenderu00c2 to around 21% and sent a request to improve that holding to around 29.9%, signifying a takeover proposal might be in the cards. Previously this month, the Italian banku00c2 took a 9% stakeu00c2 in Commerzbank, affirming that half of the shareholding was acquired coming from the German government.UniCredit strongly believes sizable market value can be unlocked within Commerzbank, Germany's second-largest loan provider, but it claimed that more action is actually demanded for that worth to become "crystalized." German Chancellor Olaf Scholz slammed UniCredit's proceed Monday, stating, "unfriendly strikes, hostile requisitions are certainly not an advantage for banks and that is why the German authorities has clearly placed on its own in this direction," News agency disclosed.' Quite tense'Commerzbank's ministerial board is due to fulfill this week to talk about UniCredit's concern, people familiar with the concern who asked to stay anonymous formerly informed CNBC.Wittmann pointed out the state of mind is actually currently "quite tense" within the business, including that the banking company was actually surprised through UniCredit's announcement on Monday, which he referred to as a "180 degree-turn within 48 hours."" [UniCredit Chief Executive Officer Andrea Orcel] final communicated on Friday that he preferred a friendly requisition in agreement along with all stakeholders and politicians. As well as last night our team were actually stunned by his unfavorable takeover try. That does not add up," Wittmann said.The ministerial board participant explained that the two main explanations to regard a possible merger in an essential light are the absence of a banking union in Europe, and the truth that UniCredit has "absorbed on its own along with Italian government bonds lately." He examined what could take place need to geopolitical pressures or "upheavals" influence UniCredit's availability of principal city to pay for Commerzbank's industry.In feedback to the 2008 financial problems, the European Compensation introduced plans to create a banking union to strengthen the rule and guidance of banking companies all over the region.Commerzbank board participant warns of notable project reductions along with an aggressive UniCredit takeover Financial expert and also former European Central Bank Guv Mario Draghi hailed in a latest record that banks in Europe skin regulatory obstacles which "constrain their capability to provide," also citing the "inadequate" financial union as being one aspect that affects competition for the area's banks." Our team have actually regularly spoken out, featuring as employee agents on the Supervisory Panel, that there may and need to be actually mergers at [a] European amount, however just when the financial union resides in area. And also is simply our second point of objection, that our experts say: generate the regulations of the game as well as the guardrails first, and then perform it properly when it is actually clear which playing area our team are on," Wittmann pointed out.