Commerzbank Terminates Sale of Polish mBank Stake
11 May 2020 - 11:06PM
Dow Jones News
By Cristina Roca
Commerzbank AG said Monday that it has decided to terminate the
sales process of its majority stake in Poland's mBank SA.
"Under the current market conditions which are dominated by the
coronavirus crisis, a transaction doesn't seem feasible at
reasonable terms," Commerzbank said.
The German lender was planning to sell its 69.3% stake in mBank
as part of its new strategy.
Commerzbank said the Polish bank will now remain part of the
group, and that it will continue to pursue its Commerzbank 5.0
strategy presented last September.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
May 11, 2020 08:51 ET (12:51 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Commerzbank (PK) (USOTC:CRZBY)
Historical Stock Chart
From Apr 2024 to May 2024
Commerzbank (PK) (USOTC:CRZBY)
Historical Stock Chart
From May 2023 to May 2024