(Finance) – The ministry of finance German would be open to the sale of its participation in Commerzbank, a major German bank, to a European rival once its share price has further rebounded and the fallout from the war in Ukraine has subsided. Bloomberg wrote it, citing anonymous sources familiar with the matter.
Germany still has one participation of 15.6% in Commerzbank, which is almost impossible to be sold at prices higher than those with which it had entered the capital for the bailout of the institution. The state would need to sell the stake at a price of around € 26 per share, the previous government said, while now the stock is within € 8.
In the last decade they have been several large European banks that have approached Commerzbank for a potential purchase, including BNP Paribas, ING Groep And UniCredit, but the deal never went through. The German authorities failed to convince Deutsche Bank to acquire the rival.