Germany won’t sell more Commerzbank shares for now, finance agency says

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Germany won’t sell more Commerzbank shares for now, finance agency says

A customer enters a Commerzbank AG bank branch in Berlin, Germany, on Tuesday, Aug. 6, 2024.

Bloomberg | Bloomberg | Getty Images

Germany will not sell any more shares in Commerzbank for the time being and the bank’s strategy is “geared towards independence,” the nation’s finance agency said on Friday.

The statement comes days after the Italian bank UniCredit announced it had bought a 9% stake in Commerzbank – from the ******* government as well as on the open market – and its chief executive said he wanted to explore a merger.

The agency announced that at a meeting on Friday it decided it “will not, until further notice, sell any additional shares”.

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