MILAN (Reuters) -Intesa Sanpaolo Chief Executive Carlo Messina said on Thursday Unicredit can create value through a merger with Commerzbank, as the Italian rival bank already runs a large banking business in Germany.

A senior German banker said there a several reasons why a takeover of Commerzbank AG by UniCredit SpA could be beneficial, demonstrating that the strong opposition to the potential deal by the country’s government isn’t a national consensus.

Andrea Orcel stunned Germany last week by raising UniCredit’s stake in Commerzbank from 9 per cent to 21 per cent in a manoeuvre that mirrored tactics made notorious in hostile takeover battles more than a decade ago.