(Alliance News) - The possible takeover of Commerzbank AG by UniCredit Spa remains uncertain amid political obstacles and internal resistance within the German bank, as Milano Finanza writes Thursday.

UniCredit CEO Andrea Orcel said the success of the deal depends on the support of the future German government. In an interview with the Frankfurter Allgemeine Zeitung, Orcel expressed hope for answers by the end of the year, stressing that the deal will not be pursued at all costs.

The outgoing government, led by Olaf Scholz, opposed the plan, arguing for Commerzbank's independence. However, upcoming elections in Germany could change the political balance, affecting the feasibility of the deal. Orcel believes the merger would offer strategic benefits for both banks, customers and shareholders, calling it "excellent for Germany."

A Commerzbank spokeswoman described UniCredit's approach as "hostile" and lamented the absence of a formal proposal. Resistance from the Frankfurt-based group and the uncertain political picture keep the future of the negotiations shrouded in uncertainty.

By Antonio Di Giorgio, Alliance News reporter

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