Finance
Germany Halts Commerzbank Share Sales to Block Any UniCredit Bid
- Federal government says it will maintain its shareholding
- Commerzbank strategy geared toward independence, Berlin says
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Germany won’t sell any more shares in Commerzbank AG, a move that demonstrates the depth of opposition in Berlin to any takeover by Italian rival UniCredit SpA.
The government “will not, until further notice, sell any additional shares,” the agency responsible for any sales said in a statement Friday. “This also includes sales related to any share buybacks.”