Stefan Wittmann, who is also a senior official at German trade union Verdi, told CNBC’s Annette Weisbach that “we certainly hope we can avoid” a hostile takeover by the Italian bank.
Germany’s government will keep its 12% stake in Commerzbank until further notice, after a sale of a portion of its shares to Italy’s UniCredit sparked takeover speculation.
European banking’s latest takeover battle is widely regarded as a potential turning point for the region — particularly the bloc’s incomplete banking union.