Shares in Commerzbank fell 5% in Lang & Schwarz pre-market trade. This is after Germany’s Finance Minister said that the government would not keep its stake in the lender in the long run.
Christian Lindner was quoted as saying by Handelsblatt that, in the long run, the state will not be a shareholder in Commerzbank. Lindner said tha he would take into consideration taxpayers’ financial interest and the importance of Commerzbank for Germany’s medium-sized economy. And that too, when this decision is made in the future.
The government holds a stake of more than 15% in Commerzbank. This is after following a bailout during the financial crisis. Commerzbank Chief Executive Officer Manfred Knof said that in November it would be better if the government shed its stake in the bank at some point.