Finance
Germany to Sell Down Commerzbank Stake After Share Rally
- Stake is worth roughly €2.5 billion at current market price
- Government hasn’t specified how much it will sell or when
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The German government plans to cut its stake in Commerzbank AG as it seizes on a recent share rally to initiate an exit from the lender it rescued over a decade ago.
The country’s finance agency, which manages the stake of about 16.5%, announced the move after market close on Tuesday. It didn’t disclose how much it would sell or when. The government stake is worth roughly €2.5 billion.