Commerzbank shares jumped on market open on Wednesday, after Italian bank UniCredit acquired a 4.5% stake in the Frankfurt-based lender from German government.
Commerzbank shares jumped on market open on Wednesday, after Italian bank UniCredit acquired a 4.5% stake in the Frankfurt -based lender from the German government.
In a separate statement, UniCredit said it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired from the government.Bloomberg | Bloomberg | Getty Images Even at a reduced 12% position, the German government said it remains Commerzbank's largest shareholder. Berlin has held its stake in the lender ever since injecting 18.2 billion euros to rescue Commerzbank during the 2008 financial crisis. Around 13.15 billion euros of that sum has been repaid to date, the government"Commerzbank has shown that it is once again standing on its own two feet.
"To maintain flexibility, UniCredit will submit regulatory filings for authorization to potentially exceed 9.9% of Commerzbank if and when necessary," UniCredit said. The bank's own Milan-listed stock was up nearly 0.5% at 12:55 p.m. in London.
Banks Markets Frankfurt London Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Commerzbank shares jump 18% after Unicredit buys 4.5% stake from the German governmentCommerzbank shares jumped on market open on Wednesday, after Italian bank UniCredit acquired a 4.5% stake in the Frankfurt-based lender from German government.
Read more »
Commerzbank shares jump 17% after Unicredit buys 4.5% stake from the German governmentCommerzbank shares jumped on market open on Wednesday, after Italian bank UniCredit acquired a 4.5% stake in the Frankfurt-based lender from German government.
Read more »
Commerzbank shares jump 19% after UniCredit buys 4.5% stake from the German governmentCommerzbank shares jumped on market open on Wednesday, after Italian bank UniCredit acquired a 4.5% stake in the Frankfurt-based lender from German government.
Read more »
Commerzbank shares surge on UniCredit stake purchaseCommerzbank shares surge on UniCredit stake purchase
Read more »
20 Of The Funniest Tweets About Married Life (Aug. 20-26)Kelsey Borresen is a senior reporter at HuffPost Life, covering love, sex and relationships. She is a graduate of the University of Southern California's Annenberg School for Communication and Journalism and lives in Los Angeles.
Read more »
Los Angeles Angels' Zach Neto Makes Franchise History By Recording 20-20 SeasonZach Neto hit his 20th home run of 2024 during Thursday afternoon's showdown with the Detroit Tigers, making him the first Los Angeles Angels infielder ever to post a 20-20 campaign.
Read more »