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Commerzbank shares fall after finance minister says govt to shed stake in future -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A logo for a company is shown at Commerzbank AG headquarters in Frankfurt (Germany), February 13, 2020. REUTERS/Ralph Orlowski

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BERLIN (Reuters) – Shares in Commerzbank (DE:) fell 5% in Lang & Schwarz pre-market trade on Monday after Germany’s Finance Minister said the government would not keep its stake in the lender in the long run.

Handelsblatt reported that Christian Lindner stated, “In long term, the State will not be shareholder in Commerzbank,” according to Handelsblatt.

Lindner stated that he will take into account the financial interests of taxpayers and the significance of Commerzbank to Germany’s medium-sized economies when making this future decision.

After the bailout in financial crisis, the government has a more than 15% stake in Commerzbank

Manfred Knof, Chief Executive Officer at Commerzbank, stated in November that it was better for the government to sell its share in the bank.

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