Investing.com — The chances of a friendly merger between Commerzbank (ETR:) and UniCredit seem slim, following the Italian bank’s unexpected acquisition of a large stake in the German lender.

This was stated by Jens Weidmann, the chairman of the supervisory board of Commerzbank, in an interview published by Handelsblatt on Monday.

Weidmann expressed skepticism about the potential to create lasting value through a hostile takeover of the banking sector. He emphasized the importance of management engaging in trust-based discussions and developing a shared understanding during mergers.

According to Weidmann, UniCredit exceeded this procedure, they were shocked to enter it, which he considered inappropriate.

UniCredit currently holds approximately 28% of Commerzbank shares. The Italian bank directly owns about 9.5% and gets access to a further 18.5% through financial instruments.

Weidmann suggested that for the sake of Germany’s financial sovereignty, it would be beneficial to have two large independent private banks, Deutsche Bank (ETR:) and Commerzbank.

He points to the examples of HypoVereinsbank and Bank Austria, which were acquired by UniCredit in 2005, as illustrations of how banks can flourish after losing their independence.

Weidmann expressed concerns that Commerzbank’s presence in Germany could shrink and Frankfurt’s appeal as a financial hub could be affected if the bank loses its independence.

He added that such a development will force many clients, especially from the small and medium-sized business sector, to reconsider their bank relationships.

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