Commerzbank/UniCredit: European Champion or a Bargain Takeover?

UniCredit’s takeover of Commerzbank appears to be a done deal. However, the sustainable integration of Commerzbank and the creation of a European champion—as envisioned by UniCredit—remains a distant prospect. This is because the interests of all stakeholders in Germany have neither been heard nor, let alone, credibly taken into account in UniCredit’s roadmap. Nor does the new conglomerate yet meet the standard of offering genuine added value for investors and customers, let alone adequately mitigating the risks that are already apparent. Instead, many Commerzbank employees face the threat of losing their jobs…