Finance
German Ministry Plans to Keep Selling Commerzbank Shares
- More sales need unanimous nod from various government bodies
- Government has committed to restriction period on more sales
A Commerzbank AG bank branch near the company's headquarters in Frankfurt, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
The German Finance Ministry is sticking to a plan to sell off its entire stake in Commerzbank AG despite UniCredit SpA’s move to buy all the shares offered last week, according to people familiar with the matter.
While the finance ministry oversees Germany’s stake in Commerzbank, a decision on further sales needs the unanimous approval from a committee that also has officials from various other government bodies including Chancellor Olaf Scholz’s office. It’s not clear if the chancellery shares the finance ministry’s view on further Commerzbank share sales.