BERLIN (Reuters) – Commerzbank (ETR:) supervisory board chairman Jens Weidmann said there was little chance for an amicable merger with UniCredit after the Italian bank’s sudden purchase of a large stake in the German lender, reported the newspaper Handelsblatt.

“It’s like any relationship: if the start doesn’t work out, it’s hard,” Weidmann told Handelsblatt in an interview published on Monday.

He also expressed doubt that a bad takeover of the banking sector would create lasting value.

“In mergers, it is important that management first talk to each other in a spirit of trust and develop a common understanding. UniCredit decided against it and surprised us by entering it. That is not a good style,” said Weidmann.

UniCredit now controls around 28% of Commerzbank’s shares. The Italian lender has a direct 9.5%, and UniCredit also gets access to a total of 18.5% through financial instruments.

According to Weidmann, it is beneficial for Germany’s financial sovereignty to have two large independent private banks, Deutsche Bank (ETR:) and Commerzbank.

A look at HypoVereinsbank and Bank Austria, which UniCredit took over in 2005, shows how banks can thrive after losing their independence, he said.

“Commerzbank’s footprint in Germany will probably be smaller and the attractiveness of Frankfurt as a financial center will suffer,” Weidmann said, adding that many customers, especially from the small and medium-sized business sector , will be forced to reorient themselves in response to such a move.