Commerzbank supervisory board chief: Weidmann: The federal government should remain a shareholder in Commerzbank for the time being
Commerzbank supervisory board head Jens Weidmann sees the federal government continuing to be responsible for the bank - especially in view of Unicredit's takeover advances. At the same time, he warns against cuts.
Commerzbank supervisory board chairman Jens Weidmann suggests that the German government should remain a shareholder in the bank for now. The government has held a stake in Commerzbank since the financial crisis and currently owns around 12 percent. Weidmann also expressed concerns about the Italian bank Unicredit's recent acquisition of nearly 50 percent of Commerzbank's shares, saying it raises questions about Germany's takeover laws.
He warned that Unicredit's plan to cut 1.3 billion euros in costs within 12 months would likely involve significant reductions in Germany.
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.
