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A German ‌bank labour ​union ​on Friday ⁠circulated ​a letter ​voicing stark criticism ​of ​UniCredit's move ‌to ⁠take over Commerzbank , ​saying "the ​potential ⁠for chaos ​is ​growing".

Commerzbank's workers ​council on ‌Thursday rebuffed UniCredit's advances, ​maintaining ​their resistance to a ⁠tie-up ​as the ​Italian bank nears control of ​the German ​competitor.

One of Europe's most cantankerous banking battles in decades is becoming more a question of how and when, not if, UniCredit secures its prize, after it disclosed it was nearing ​control of Germany's Commerzbank in its €45 billion ($51 billion) hostile deal.

Commerzbank ​on Friday ‌published a ​letter ​to shareholders again ⁠asking ​them to ​reject UniCredit's to buy ​shares, ​maintaining its months-long ‌resistance ⁠to any deal ​as ​an ⁠offer period ​enters ​its ⁠final stretch.

Germany's ​Commerzbank said on Thursday ‌that institutional investors have tendered just somewhat more than ​1% of shares ​in UniCredit's takeover offer.