German finance minister damps speculation of sale of Commerzbank stake

A Commerzbank logo is pictured before the bank’s annual news conference in Frankfurt, Germany, February 9, 2017. REUTERS/Ralph Orlowski/File Photo

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FRANKFURT, Sept 8 (Reuters) – German finance minister Christian Lindner on Thursday sought to damp speculation about the government’s stake in Commerzbank (CBKG.DE)that it acquired during a bailout more than a decade ago.

Lindner, speaking at a conference in Frankfurt, said no quick decisions about the stake were needed and that it was not the time for speculation about the holding.

The government is “very satisfied with the development of Commerzbank”, Lindner said.

The No. 2 German lender after Deutsche Bank is in the midst of a restructuring, trimming a third of its staff, and has returned to profit.

Germany owns a stake of more than 15% in the bank.

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Reporting by Tom Sims, Marta Orosz and Christian Kraemer, editing by Rachel More

Our Standards: The Thomson Reuters Trust Principles.

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