The text can be rephrased in Arabic as follows:
UniCredit increases pressure on Commerzbank… but Germany is not ready to concede
💡 UniCredit has escalated its move towards Commerzbank by seeking to raise its stake to over 30%, which is the threshold that may require a full takeover bid under German law. This move transforms the deal from merely a banking operation into a broader political and national issue.
⚠️ Germany's response was firm, with the Ministry of Finance announcing that a hostile takeover is unacceptable, especially since the government still owns about 13% of Commerzbank's shares. For its part, the bank's management confirmed that an independent business strategy is the right choice and does not support UniCredit's approach.
📌 The pressure comes not only from official entities but also from unions and employees who fear that a cross-border merger could lead to job cuts and weaken the role of an important local financial institution. This indicates that the biggest barrier is not only the financial valuation but also the political and social acceptance.
🔎 The market's reaction was clear; Commerzbank's shares rose with the expectation of a takeover, while UniCredit faced some pressure due to execution risks. This event also highlights the fragmentation of the European banking sector, where large cross-border mergers remain difficult when met with resistance from host country governments.
