commerz
[FONT="][Reuters] Commerzbank to unveil bailout payback plan-sources [/FONT]
[FONT="][CBKG.DE] FRANKFURT, March 10 (Reuters) - Commerzbank <CBKG.DE> is
putting the finishing touches on a "big bang" plan for repaying
18.2 billion euros ($25.25 billion) in state bailout money,
three sources familiar with the bank's thinking said.
The repayment "road map" is set to be unveiled before the
annual general meeting scheduled for May 18 to give shareholders
time to prepare for a vote on the matter, these people said.
The measures will include an outline for a single capital
increase of between 5-7 billion euros, these people said.
The lender has said it aims to repay the 16.2 billion euros
in silent participation it received from the German state in as
few steps as possible.
A capital increase in several steps would depress the share
price for months as investors would fear dilution of their
holdings in stages, these people said.
At the hight of the credit crisis the German government also
injected 2 billion euros in exchange for a 25 percent voting
stake.
Commerzbank has said it wants to begin repaying the bailout
money this year. The annual interest payments on the silent
participation, a form of non-voting capital, will cost
Commerzbank about 1.5 billion euros from this year onwards.
The invitation to the annual general meeting needs to be
sent out at least six weeks before the event.
personalmente quando faranno aumento di capitale saró molto attento, penso faró una bella scorpacciata di azioni commerz
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