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In September, the government started lowering its ownership in Commerzbank, which it has had since the 2008 financial crisis, by selling a 4.5 per cent stake to UniCredit of Italy. This decreased the government's ownership in Commerzbank to 12 per cent from 16.49 per cent.
UniCredit gave 13.2 euros for each Commerzbank share.
The financial agency announced that it would maintain its current stake in Commerzbank without any plans for further reductions at this time.
“Commerzbank is a stable and profitable financial institution. Its plan involves being independent,” the agency stated, adding that the government will continue to back this by holding onto its investment in the bank.
source: dw.de
UniCredit gave 13.2 euros for each Commerzbank share.
The financial agency announced that it would maintain its current stake in Commerzbank without any plans for further reductions at this time.
“Commerzbank is a stable and profitable financial institution. Its plan involves being independent,” the agency stated, adding that the government will continue to back this by holding onto its investment in the bank.
source: dw.de
