The process of UniCredit's takeover of Germany's Commerzbank is "unstoppable" and will prevail because the business logic is clear, the chief executive of the Italian bank said on Wednesday.

"But if it doesn’t work out, someone else will come along. That's the reality of the market. Consolidation is inevitable," Unicredit CEO Andrea Orcel told an interview with Frankfurter Allgemeine Zeitung.

UniCredit and Commerzbank have been in a ​standoff since ​2024, when the Milan-based bank began building ‌up ⁠a stake in the German lender and pressed for ​a merger.

UniCredit currently owns a 27% stake in Commerzbank, making it the largest shareholder in the Frankfurt-based bank. Including ⁠derivatives, the stake is 32.64%, according to a filing last week.

A direct stake of more than 30% treshold would trigger a mandatory takeover offer under German law.

In mid-March, UniCredit announced a voluntary share exchange offer for all outstanding shares.

Commerzbank ​has ⁠been resisting the Italian bank's advances, aiming ​to remain ​independent. Its management, employees and the German government all oppose a potential hostile takeover.

The German government itself owns 12% of the bank's shares.

Orcel earlier argued that consolidation is needed to create stronger European banks capable of competing with large U.S. rivals.

UniCredit shareholders are due to vote on a required capital increase for the bid at an extraordinary general meeting on May 4.

Commerzbank has said discussions with UniCredit had failed to demonstrate benefits beyond what it could achieve independently, while also warning of significant execution risks tied to a merger.

It also criticized UniCredit for acting without prior coordination, saying this had undermined trust.

Commerzbank plans to present updated financial targets alongside its first-quarter results on May 8.