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(Reuters) – The German finance ministry remains committed to selling its entire stake in Commerzbank, despite UniCredit’s interest in potentially buying the lender, Bloomberg News reported on Tuesday.
The German government has previously agreed to divest from Commerzbank fully, which continues to be the finance ministry’s intention for now, the report said, citing people familiar with the matter.
The goal is to sell at the most favorable price rather than retaining the stake, even if it leads to UniCredit acquiring more shares, the Bloomberg report added.
Commerzbank declined to comment while the German Finance Ministry and UniCredit did not immediately respond to Reuters requests for comment.
UniCredit emerged as the biggest private investor in Commerzbank after it outbid rivals in a tender to buy a 4.5% stake from the German government. UniCredit had previously bought another 4.5% stake in the market.
(Reporting by Surbhi Misra in Bengaluru; Editing by Mark Potter)