Frankfurt (Germany), 16 March (LaPresse) – "The federal government supports Commerzbank’s strategy of independence. A hostile takeover would not be acceptable, particularly given that Commerzbank is a systemically important bank.‘ This was stated by a spokesperson for the German Ministry of Finance at a press conference regarding UniCredit’s bid for Commerzbank. ’The federal government takes note of the announcement that UniCredit intends to increase its stake in Commerzbank. If a formal offer is submitted, it will be up to Commerzbank’s board of directors and supervisory board to examine it and make a recommendation to shareholders. At present, we are looking at an announcement, but there is no formal offer yet. The federal government’s position on this matter is well known and remains unchanged in all respects,” the spokesperson added.
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