CashNews.co
By Maria Martinez
BERLIN (Reuters) – How UniCredit behaved in buying up shares in Commerzbank has sparked distrust, German Finance Minister Christian Lindner said on Wednesday.
“How UniCredit acted surprised us, raised questions and did not strengthen our trust in UniCredit,” Lindner said in the lower house of parliament.
He reiterated that the German government supports Commerzbank’s independence and will not sell more shares “until further notice.”
Berlin still has a 12% stake in the German bank.
“This will also send a signal to others, if the government makes it clear that it continues to believe in the strategy of keeping Commerzbank independent,” Lindner said.
He repeated that the response to UniCredit’s actions lies primarily with the board of Commerzbank, including the board of managing directors and the supervisory board.
(Reporting by Maria Martinez, Editing by Miranda Murray)