Commerzbank surges 17% after UniCredit buys stake - Breaking The News

Commerzbank surges 17% after UniCredit buys stake

11 September

1 min read

EPA-EFE/RONALD WITTEK

Shares of Commerzbank AG soared over 17% during morning trading on Wednesday following the news that UniCredit Group acquired a 4.49% stake in Commerzbank from the German government.

UniCredit bought the stake for €13.20 per share or a total of €702 million. After the sale, the government retains a 12% stake in the German lender, staying its main shareholder.

Commerzbank's stock skyrocketed 17.6% at 9:13 am CET, selling for €14.815 apiece.

commerzbank unicredit

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