Commerzbank’s management has warned the German government that a potential multibillion-euro merger with UniCredit is a threat to businesses that make up the backbone of Europe’s biggest economy.

Germany will not sell any more shares in Commerzbank for now and the bank's strategy is "geared towards independence," the country's Finance Agency said on Friday, in the clearest sign yet that the government doesn't currently favour a takeover of the nation's No.

Commerzbank's management has warned the German government that a potential multibillion euro merger with Italy's second-largest bank UniCredit is a threat to businesses that make up the backbone of Europe's biggest economy, the Financial Times reported on Monday.

The government said it won’t offload any additional shares in the bank following the sale to UniCredit for €702 million. The move marks an U-turn for the government.

Commerzbank's management has warned the German government that a potential multibillion euro merger with Italy's second-largest bank UniCredit is a threat to businesses that make up the backbone of Europe's biggest economy,

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