Commerzbank: Berlin is considering selling a 12.7 per cent stake to UniCredit if an agreement on strategy is reached
The German government is reportedly considering the sale of its controlling stake in Commerzbank to UniCredit, subject to the approval of a strategic plan agreed between the two banks. No comment from Berlin
(Il Sole 24 Ore Radiocor) - German government officials are open to discussing the sale of a 12.7 per cent stake in Commerzbank – which is controlled by Berlin – to UniCredit, provided the two institutions can agree on a shared strategy. This is reported by Bloomberg, which emphasises that this is not an official position of the government.
Some government representatives, however, are said to believe that a sale at the right price, with clear guarantees for Commerzbank’s future, would be an acceptable outcome, particularly given that UniCredit is, in all likelihood, set to gain control of the German bank in any case. Any talks between Piazza Gae Aulenti and Berlin regarding the sale of the stake would be conditional upon the current management of Commerzbank giving the green light to UniCredit’s plans.
The German government: ‘We do not comment on speculation’ regarding Commerz shares
The German government, however, is not commenting on rumours regarding the possibility of selling its shares in Commerzbank, ahead of a potential takeover by Unicredit. “We do not comment on speculation,” replied government spokesperson Sebastian Hille when asked about the matter at the government press conference.
