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Commerzbank works council opposes Unicredit takeover plans amid negotiations
Sascha Uebel, Chairman of Commerzbank's Works Council, has launched a campaign against Unicredit's takeover efforts, vowing to complicate the process for CEO Andrea Orcel. While acknowledging the potential inevitability of the takeover, Uebel aims to secure better outcomes for employees and locations during negotiations. Unicredit has submitted its plan to acquire up to 29.99% of Commerzbank to the German Federal Cartel Office for review, with approval from the European Central Bank expected soon.
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