Commerzbank shareholder: will Cerberus take over the federal government’s shares?

The largest shareholder in Commerzbank has been the federal government since the financial crisis. But that could change after the election. A US financial investor is at the center of speculation.

The state has been involved in Commerzbank since the financial crisis. It has long been puzzled as to when the federal government could get out again. Now there is speculation that things could become concrete relatively quickly after the general election. Apparently the US financial investor Cerberus is interested.

The federal government would have to accept high losses

After the state with around 15 percent, Cerberus is the largest shareholder in Commerzbank with around five percent. Most recently, Cerberus had caused a stir and resignations from top managers at Commerzbank. Now – depending on how the general election ends – Cerberus could perhaps take over the state share in Commerzbank, reports the “Handelsblatt”. Of course, it is also important how the economy will develop in the coming months – and what price a new federal government would like to have for its share.

The state share, for which the federal government paid a good five billion euros at the time, is currently only worth a little more than one billion euros due to the fall in the Commerzbank share price. If it were to sell its stake, the federal government would probably have to accept high losses. Nonetheless, once the parties have sorted themselves out after the federal election, according to experts, things could get moving at the beginning of next year.

Cerberus has been dissatisfied with management for a long time

Some time ago, the financial investor and Commerzbank major shareholder attacked the bank’s management in a letter. It said: “The immature and poorly implemented efforts of management to prevent the decline of Commerzbank demonstrate a level of negligence and arrogance that we no longer want to accept.”