Commerzbank's leadership has pushed back against the ongoing takeover bid from Italy's UniCredit, asserting that the bank's largest investors have maintained their positions rather than selling into the offer.
The German lender's chief executive emphasized that the current shareholder structure remains intact, directly countering UniCredit's narrative that a merger is supported by the market.
This development marks a significant escalation in the corporate battle, with Commerzbank's management positioning itself as the defender of the bank's independence.
The assertion that major holders are staying put is designed to signal stability to the market and complicate UniCredit's path to a successful acquisition.
By highlighting the lack of selling pressure from key institutional backers, Commerzbank aims to demonstrate that its standalone strategy retains strong support.
This move comes as the Frankfurt-based lender continues to navigate the complex regulatory environment surrounding the potential deal, which has faced hurdles from German authorities concerned about market concentration and financial stability.