The internal message, circulated to staff this Tuesday, signals a deepening rift between the two financial institutions. While UniCredit has publicly asserted its position regarding the stake, Commerzbank leadership is now formally challenging the accuracy of those statements. By engaging directly with BaFin, the bank aims to clarify the regulatory implications of the Italian lender’s market maneuvers.

A spokesperson for Commerzbank confirmed the authenticity of the staff notice, though the bank has refrained from further public elaboration. The situation remains fluid as both parties navigate the transparency requirements governing significant shareholdings in the German banking sector.