Jens Weidmann, supervisory board chairman of Commerzbank, has called on Italian lender UniCredit to enter into direct negotiations with the German bank's management team.
The appeal comes as the takeover battle escalates, with Weidmann acknowledging that a change in control by the Milan-based group appears increasingly likely.
According to reporting from Manager Magazin, Weidmann conceded that the defensive measures previously employed by Commerzbank have failed to block the acquisition.
Rather than continuing to resist through regulatory or structural barriers, the supervisory board chief is now pushing for a structured dialogue between the two institutions' leaderships.
This development represents a notable shift in the dynamics of the merger saga.
While German political figures, including Chancellor Olaf Scholz, have previously signaled opposition to a foreign takeover of the state-backed lender, the internal resistance at Commerzbank appears to be softening.