Germany weighs selling its stake in Commerzbank to UniCredit
The German Government, with a 12.7% state holding in Commerzbank, is seeking to facilitate the two entities reaching an agreement that is favourable for both parties in economic and strategic terms.
The German Government, which holds a 12.7% stake in Commerzbank, is open to discussing the sale of its stake to Italian bank UniCredit if a strategic agreement is reached between the two entities. UniCredit currently holds a 47.59% stake in Commerzbank, which translates to 49.65% of voting rights. The German Government's stance on the matter has shifted from outright opposition to a more conciliatory approach, as it seeks to ensure Commerzbank's continued influence in Germany's banking sector.
UniCredit's CEO, Andrea Orcel, has expressed confidence that his bank will gain control of Commerzbank in the fourth quarter.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
