Unicredit-CommerzBank, openings from Germany. The German companies, in fact, give the green light and say yes to theintegration between the two banks. He writes it Milano Finanza. After the blitz launched by the institute led by Andrea Orcell and that brought Unicredit to 9% of the Frankfurt bank for 1,5 billion, the business associations have decided to come out into the open and express their opinion on the merits.
An possible acquisition of Commerzbank by Unicredit, in fact, could “initiate the urgently needed transformation of Commerzbank's ailing business in order to make it competitive again, a benefit also for German companies,” he stressed. Marc Tenbieg, director general of the Deutscher Mittelstands-Bund in Dusseldorf, theGerman Association of Small and Medium-sized Enterprises representing approximately 25 companies in Germany.
Unicredit-CommerzBank, what German companies say
“Without external support, Commerzbank will hardly be able to survive in the global financial market in the long term,” Tenbieg added, but admitted: “In uncertain times, many entrepreneurs want to rely on domestic partners.” It is true that fears related to possible job cuts and the relocation of the headquarters abroad are not considered unfounded but "it is precisely measures of this kind that could solve Commerzbank's difficulties". The State, therefore, should not adopt protectionist measures against the operation, he says again Mf.
The Bundesverband mittelständische Wirtschaft of Berlin, theFederal Association of Small and Medium-sized Enterprises which 55 thousand companies are members. “In the current phase of significant economic upheavals, strong and solid financial partners are extremely important for small and medium-sized enterprises,” he declared to Reuters the association's chief economist Hans-Jürgen Völz. “It is therefore right that commercial banks survive on the market as reliable partners for SMEs,” Völz added, adding that “in the case of Commerzbank, if a merger with another European banking institution would contribute to this goal, we would welcome it.”
The Berlin Bundesverband Junger Unternehmer, theAssociation of Young German Entrepreneurs, has a similar view. “Regardless of what happens to Commerz now, I think it is positive that the state is stepping back as an influential shareholder,” said the national chairman Thomas Hoppe. “The decision must be maintained regardless of any consolidation of the banking market, which is more economic than political in nature.”
Who is the candidate to conduct interviews with Unicredit
Meanwhile, some rumors are emerging: Bettina Orlopp, CFO (i.e. financial director) of Commerzbank, is the candidate to lead the talks with Unicredit. The role could be assigned to her next week, when the management and supervisory boards will meet to discuss the strategy and the response to the move that led the group led by Andrea Orcel to have a 9% stake in the German bank's capital. This is written Bloomberg citing Reuters. Commerzbank, meanwhile, has not commented on the rumor.
