UniCredit: Government representatives probably open to sale of federal Commerzbank shares
So far, Berlin had noticeably restrained itself in the attempted takeover by UniCredit. Recently, the government only declared itself ready for talks. Now the next step could follow.
High-ranking German government representatives have expressed openness to selling the government's 12.7 percent stake in Commerzbank to Italian bank Unicredit. A sale would give Unicredit a majority stake in Commerzbank, but only if the two banks can agree on a joint strategy. The German government has not officially commented on the potential deal, with a spokesperson saying it was a speculation that would not be commented on.
The government representatives' comments were made to Bloomberg, and no official talks or transaction have been confirmed.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
