Berlin will sell as soon as possible its shares in Commerzbank
Germany wants to sell as soon as possible its stake in Commerzbank, the second largest bank, said German Finance Minister Wolfgang Schäuble in the newspaper Rheinische Post.
"The sooner we're out, the better," the minister said in an interview published in the weekend edition of the German newspaper, adding that the bank had recently posted a "pleasant change .
"We do not intend to retain ownership of Commerzbank for a long time," said Wolfgang Schäuble.
The institution hopes to begin repayment no later than 2012 funds injected by the Stabilization Fund financial markets (SoFFin).
After acquiring a 25% stake in Commerzbank for 1.8 billion euros during the financial crisis, the German government purchased 16.4 billion euros of shares without voting rights of the bank to stabilize institution's own funds.
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