German government rules out selling more Commerzbank shares for now

September 20 () –

The German government has decided not to sell any more Commerzbank shares for the time being, it said in a statement on Friday.

“At its meeting on 20 September, the inter-ministerial steering committee responsible for key decisions of the Financial Market Stabilisation Fund decided that the FMS will not sell any more shares until further notice following the partial sale of shares in Commerzbank AG on 10 and 11 September,” the statement said.

This also includes sales related to the buyback of Commerzbank shares. “Commerzbank is a stable and profitable institution. The bank’s strategy is geared towards independence. The federal government will continue to follow this strategy until further notice, maintaining its stake,” the government said.