Commerzbank chair Jens Weidmann has signaled a shift in tone, calling for talks with UniCredit after nearly two years of resistance to the Italian bank's takeover efforts. UniCredit is poised to acquire a near-50 per cent stake in Commerzbank following a tender offer that concluded this month.

Weidmann acknowledged the "clear" balance of power at the upcoming annual general meeting and emphasized the need for agreement on protections for employees, shareholders, and customers. He stated that talks are in UniCredit's interest and that "everyone needs to act like adults now." This conciliatory approach mirrors that of the German government, which holds approximately 13 per cent of Commerzbank and previously opposed the takeover's "confrontational" nature. Chancellor Friedrich Merz indicated Berlin is "not blocking" the deal but must accept the decisions of other owners.

The takeover saga began in September 2024 when UniCredit acquired a stake, eventually growing to 26.8 per cent directly, with its total position set to reach 47.6 per cent. UniCredit CEO Andrea Orcel plans to engage with the German government and labor representatives. Commerzbank CEO Bettina Orlopp has expressed openness to discussions, stressing the need for a "consensual solution" for synergies.