Commerzbank workers protest UniCredit takeover attempt
- Employees, blowing whistles and many dressed in corporate yellow
WIESBADEN: Dozens of Commerzbank employees on Wednesday protested UniCredit’s attempt to take over the German lender, maintaining a wall of fierce resistance to the cross-border deal.
Employees, blowing whistles and many dressed in corporate yellow, gathered ahead of Commerzbank’s annual shareholder meeting with signs reading “UniCredit go away!” and “NOMerger NOrcel,” a reference to UniCredit CEO Andrea Orcel. “It is crystal clear to us that we cannot trust this man,” Frederik Werning, a union official and Commerzbank supervisory board member, told Reuters.
Commerzbank official rejects UniCredit CEO’s calls for renewed talks
“We are deeply concerned that if his plans go through, they will not be strategically sound, they will lead to job losses, and they will also threaten German small and medium-sized businesses,” he added. Organizers said 150 employees were present.
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