Merz Slams ‘Hostile’ Tactics as Commerzbank Rejects Takeover Bid

Chancellor Friedrich Merz said his government rejects “hostile and aggressive tactics” in Germany’s banking industry after Commerzbank AG formally rejected UniCredit SpA’s takeover bid.

“Yes, we need large banks in Europe, but that doesn’t mean that every form or type of takeover is welcome in Germany,” Merz told a gathering of the Association of German Banks in Berlin on Monday. Without explicitly naming Commerzbank, he made clear that his reference was to “recent events.”

Friedrich Merz speaks at the Association of German Banks annual reception in Berlin on April 20.

Photographer: Yen Duong/Bloomberg

“We firmly reject hostile and aggressive moves,” Merz said, echoing the position of Commerzbank. While an assessment is needed for European markets, “our small and ...