.15 February 2024, Hesse, Frankfurt/M.: The lettering "Commerzbank" can be viewed on the Commerzbank Tower in the center of the banking area. Enhanced due to the turn-around in interest rates, Commerzbank is going for another income rise after a report year. Photo: Helmut Fricke/dpa (Image by Helmut Fricke/picture partnership through Getty Images) Picture Partnership|Photo Partnership|Getty ImagesTwo-thirds of the jobs at Commerzbank might go away if UniCredit properly carries out a dangerous requisition of the German finance company, a Commerzbank supervisory board member notified on Tuesday.Stefan Wittmann, who is likewise a senior representative at German profession alliance Verdi, informed CNBC's Annette Weisbach that "we certainly wish we may prevent" a dangerous takeover due to the Italian bank. Witmann mentioned Commerzbank's panel had contacted the German authorities to carry out an inner testimonial of the possible requisition, which he hopes will certainly offer the financial institution a six-month period to analyze the scenario." Yet if it [an unfavorable takeover] is inevitable, our experts assume that two-thirds of jobs are going to disappear, that there will certainly be actually an additional notable cut in the branches," he mentioned, according to a translation." Our team will definitely see in particular that UniCredit carries out not yearn for all Commerzbank clients whatsoever, yet that it pays attention to the supposedly greatest customers, specifically the well-off customers," he added.Berlin, which was actually the most extensive investor of Commerzbank after it administered 18.2 billion euros ($ 20.2 billion) to save the financial institution in the course of the 2008 monetary situation, is probably to play a vital role in any sort of prospective merging in between the financial institutions." Our team are actually worried about our economic and also industrial responsibility. Regarding the staff is concerned, which trade alliances are actually certainly specifically paid attention to, they would constantly lose in the merging, regardless of the point in time," Wittmann said. The bank has however to react to a request for discuss Wittmann's statements.UniCreditu00c2 declared Monday it hadu00c2 raised its risk in the German lenderu00c2 to around 21% and also sent a demand to improve that holding to around 29.9%, signifying a takeover proposal may be in the memory cards. Earlier this month, the Italian banku00c2 took a 9% stakeu00c2 in Commerzbank, confirming that fifty percent of this shareholding was actually acquired from the German government.UniCredit feels significant market value can be unlocked within Commerzbank, Germany's second-largest finance company, but it claimed that more action is required for that worth to be "crystalized." German Chancellor Olaf Scholz criticized UniCredit's move on Monday, mentioning, "antagonistic attacks, dangerous requisitions are certainly not a benefit for banks and that is why the German federal government has precisely positioned itself in this direction," News agency stated.' Really tense'Commerzbank's managerial panel is due to meet this week to talk about UniCredit's concern, individuals accustomed to the matter that asked to continue to be undisclosed formerly told CNBC.Wittmann claimed the mood is currently "quite stressful" within the firm, including that the financial institution was surprised by UniCredit's news on Monday, which he called a "180 degree-turn within 2 days."" [UniCredit Chief Executive Officer Andrea Orcel] final talked on Friday that he really wanted a friendly takeover in arrangement along with all stakeholders and politicians. And also the other day our experts were stunned through his hostile takeover try. That doesn't build up," Wittmann said.The jurisdictional panel participant discussed that both primary factors to concern a possible merger in a crucial lighting are the absence of a banking union in Europe, and also the simple fact that UniCredit has "absorbed itself along with Italian government relationships in recent years." He questioned what could take place should geopolitical strains or even "disruptions" influence UniCredit's supply of capital to pay for Commerzbank's industry.In feedback to the 2008 monetary situation, the European Percentage announced programs to generate a financial union to improve the rule as well as direction of banks throughout the region.Commerzbank board participant portends notable job losses with a dangerous UniCredit takeover Business analyst and previous European Reserve bank Governor Mario Draghi hailed in a latest report that financial institutions in Europe face regulative obstacles which "constrict their ability to offer," likewise pointing out the "inadequate" banking union as being one aspect that impacts competitiveness for the area's banks." Our company have actually consistently spoken up, including as employee agents on the Supervisory Panel, that there can easily as well as ought to be mergers at [a] European amount, however only when the financial union remains in area. Which is only our second point of unfavorable judgment, that we state: create the rules of the activity and also the guardrails initially, and then do it properly when it is clear which participating in industry our experts are on," Wittmann said.