(Finance) – Commerzbankone of the leading German banks with a deep-rooted presence in the European market, is dealing with various sovereign funds for the possibility of doing them enter the capital, including strengthening its defenses against potential takeovers. Bloomberg wrote, citing people familiar with the matter.
According to the report, CEO Manfred Knof has turned to sovereign wealth funds in recent weeks in Asia and the Middle East to assess their interest in purchasing a share up to 9.9%.
After the news came out, the headline is shot up to 11,495 euros for action, before tracing. Commerzbank it now stands at 11.34 euros, with an increase of 0.84%. Operationally, expectations are for a continuation of the day in a positive direction with resistance seen at 11.5 and subsequently at 11.83. Support at 11.17.