Commerzbank Employees Protest UniCredit Takeover at Shareholder Meeting
Commerzbank Staff Voice Opposition to UniCredit Acquisition Plans
By Tom Sims and Philipp Krach
Protest at Shareholder Meeting
WIESBADEN, Germany, May 20 (Reuters) - Dozens of Commerzbank employees on Wednesday protested UniCredit's attempt to take over the German lender, maintaining a wall of fierce resistance to the cross-border deal.
Demonstration Details
Employees, blowing whistles and many dressed in corporate yellow, gathered ahead of Commerzbank's annual shareholder meeting with signs reading "UniCredit go away!" and "#NOMerger #NOrcel," a reference to UniCredit CEO Andrea Orcel.
Union and Employee Concerns
"It is crystal clear to us that we cannot trust this man," Frederik Werning, a union official and Commerzbank supervisory board member, told Reuters.
"We are deeply concerned that if his plans go through, they will not be strategically sound, they will lead to job losses, and they will also threaten German small and medium-sized businesses," he added.
Protest Participation
Organizers said 150 employees were present.
