.15 February 2024, Hesse, Frankfurt/M.: The lettering "Commerzbank" may be viewed on the Commerzbank Tower in the facility of the financial area. Enhanced by the turnaround in interest rates, Commerzbank is going for yet another earnings boost after a file year. Photo: Helmut Fricke/dpa (Picture through Helmut Fricke/picture collaboration through Getty Images) Photo Alliance|Picture Alliance|Getty ImagesTwo-thirds of the work at Commerzbank could possibly fade away if UniCredit successfully accomplishes an unfavorable takeover of the German lending institution, a Commerzbank regulatory panel participant notified on Tuesday.Stefan Wittmann, who is additionally a senior representative at German business union Verdi, informed CNBC's Annette Weisbach that "our experts surely hope our experts can steer clear of" a dangerous takeover by the Italian banking company. Witmann said Commerzbank's panel had actually contacted the German government to perform an inner customer review of the possible takeover, which he wishes will definitely offer the financial institution a six-month duration to examine the condition." Yet if it [an aggressive requisition] is unavoidable, our experts assume that two-thirds of tasks will certainly disappear, that there are going to be actually one more substantial break in the divisions," he mentioned, according to an interpretation." Our experts will certainly see in particular that UniCredit performs certainly not desire all Commerzbank consumers at all, however that it pays attention to the apparently best customers, such as the prosperous clients," he added.Berlin, which was the largest investor of Commerzbank after it administered 18.2 billion euros ($ 20.2 billion) to save the lending institution during the course of the 2008 monetary problems, is actually most likely to participate in a crucial task in any potential merging between the financial institutions." Our company are actually concerned with our financial as well as industrial obligation. As far as the labor force is actually concerned, which trade unions are actually certainly especially focused on, they would consistently lose out in the merger, despite the point," Wittmann claimed. The banking company has yet to respond to an ask for discuss Wittmann's statements.UniCreditu00c2 announced Monday it hadu00c2 raised its stake in the German lenderu00c2 to around 21% and submitted a demand to enhance that pursuing up to 29.9%, signifying a takeover offer might be in the memory cards. Earlier this month, the Italian banku00c2 took a 9% stakeu00c2 in Commerzbank, confirming that fifty percent of this particular shareholding was actually obtained coming from the German government.UniCredit believes substantial market value may be uncovered within Commerzbank, Germany's second-largest creditor, but it said that more activity is needed for that market value to become "crystalized." German Chancellor Olaf Scholz slammed UniCredit's carry on Monday, saying, "hostile assaults, hostile takeovers are not a benefit for banks which is actually why the German government has actually accurately positioned on its own here," Reuters reported.' Incredibly tense'Commerzbank's supervisory board is due to fulfill today to go over UniCredit's concern, folks aware of the matter who inquired to stay anonymous previously said to CNBC.Wittmann said the mood is presently "quite stressful" within the company, adding that the banking company was actually startled through UniCredit's announcement on Monday, which he referred to as a "180 degree-turn within 48 hours."" [UniCredit CEO Andrea Orcel] last talked on Friday that he really wanted a helpful takeover in contract with all stakeholders as well as politicians. And also the other day our company were shocked by his aggressive takeover attempt. That doesn't accumulate," Wittmann said.The jurisdictional board member revealed that the 2 major causes to concern a potential merging in a vital light are actually the absence of a banking union in Europe, and also the reality that UniCredit has "absorbed itself with Italian federal government bonds recently." He questioned what might take place need to geopolitical pressures or "turmoils" effect UniCredit's supply of principal city to fund Commerzbank's industry.In response to the 2008 economic crisis, the European Commission declared plans to produce a financial union to improve the regulation and guidance of banks throughout the region.Commerzbank board participant warns of notable task losses along with an aggressive UniCredit requisition Economic expert as well as previous International Reserve bank Guv Mario Draghi warned in a recent record that banking companies in Europe skin governing difficulties which "constrict their capacity to give," additionally presenting the "insufficient" financial union as being one factor that affects competition for the region's financial institutions." Our team have actually always spoken out, including as employee agents on the Supervisory Panel, that there can easily as well as should be mergings at [a] International level, yet just when the banking union resides in place. And also is actually just our 2nd point of objection, that our team state: develop the regulations of the activity and also the guardrails first, and after that do it prudently when it is actually clear which playing area we perform," Wittmann pointed out.