The Italian bank Unicredit buys many shares of Commerzbank. Unicredit now owns 39 percent of the shares. Unicredit is the biggest owner of Commerzbank. The boss of Unicredit is Andrea Orcel. He wants to take over the whole bank. He wants to save money and cut jobs.
The leaders of Commerzbank do not like the offer. Bettina Orlopp is the boss of Commerzbank. She says: The offer is too low. The shareholders get too little money. Commerzbank wants to stay alone. The leaders worry about the staff and customers.
The government of Germany also dislikes the plan. The government owns 12 percent of Commerzbank. It does not want to sell shares now. Other shareholders can sell their shares until July 3. Then everyone knows the result.
