Commerzbank's (CBKG.DE) deputy chair (CBKG.DE) voiced opposition on Tuesday to a takeover of the German bank by Italy's UniCredit <CRDI.MI>.
Speaking in front of Commerzbank's headquarters in central Frankfurt, Uwe Tschaege said the message was clear: "We don’t want this."
Three supervisory board members - Tschaege, Sascha Uebel and Stefan Wittmann, who all represent employees - made an appearance that marked the latest volley in the potential takeover battle.
UniCredit, whose CEO has said he would be interested in a tie-up between the banks, on Monday said it was preparing to increase its stake in Commerzbank to 21%. But German Chancellor Olaf Scholz slammed the move as "an unfriendly attack".
The gathering on the steps of the German bank's headquarters increases what has become an increasingly vocal campaign by employees to sway public opinion against a deal.
