Germany’s Finance Minister Lars Klingbeil will meet UniCredit CEO Andrea Orcel to outline specific conditions for a Commerzbank takeover.
Berlin demands that Commerzbank maintains its listing on the Frankfurt stock exchange. The government also requires the bank to continue its essential role in financing Germany’s medium-sized companies.
Further conditions include a prohibition on forced redundancies. The German government currently holds a 12% stake in Commerzbank and may seek the right to appoint two non-executive directors.
Commerzbank’s CEO confirmed last week that constructive discussions regarding the potential deal are already in progress.