Federal authorities is not going to promote any extra shares in the interim | EUROtoday

The assertion continues: “Commerzbank AG is a stable and profitable institution. Its strategy is geared towards independence. The federal government will support this by maintaining its stake for the time being.” By referring to independence, the finance company is probably going responding to the ambitions of the main Italian financial institution Unicredit, which desires to purchase the federal authorities's complete share – and will additionally search to take over Commerzbank.

Investors speculating on a takeover of Commerzbank by Unicredit have suffered a setback. The shares misplaced 1.3 p.c in late buying and selling in Frankfurt, after ending Xetra buying and selling 0.5 p.c greater at 15.68 euros.

This week, Commerzbank requested the federal authorities to do exactly that. The board has thus far reacted cautiously to the advances from Italy. Unicredit secured a part of the shares when the federal authorities bought its first block of shares, growing its stake to 9 p.c.

Other our bodies have additionally spoken out towards a takeover of Commerzbank by Italian opponents in latest days. The Prime Minister of Hesse, Boris Rhein (CDU), stated on Friday that his state authorities had not been sufficiently knowledgeable concerning the sale by the federal authorities and referred to as on the federal authorities to strengthen Frankfurt as a monetary middle as an alternative of weakening it. The Verdi union and the Commerzbank works council additionally spoke out strictly towards a sale.