Topgun1976
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Santander has considered investing in Commerzbank
07/16/2013 | 02:43am US/EasternRecommend:
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A pedestrian walks past a branch of a Santander bank in London
Spain's Banco Santander (>> Banco Santander, S.A.) has considered investing in Commerzbank (>> Commerzbank AG), Germany's second-biggest bank, the daily Die Welt reported, citing financial sources.
Spain's Banco Santander (>> Banco Santander, S.A.) has considered investing in Commerzbank (>> Commerzbank AG), Germany's second-biggest bank, the daily Die Welt reported, citing financial sources.
The paper said on Tuesday that Commerzbank's retail banking business in particular, which has more than 11 million customers, could be of interest to Santander.
Santander and Commerzbank declined to comment on the report.
Commerzbank is 17 percent-owned by the German government following a 2009 bailout when financial turmoil in the wake of the collapse of Lehman Brothers drove a number of major European banks to the brink of collapse.
Over the weekend, a German magazine reported that Finance Minister Wolfgang Schaeuble had approached the chairman of UBS (>> UBS AG) about the possibility of the Swiss bank buying the government's remaining stake in Commerzbank.
Santander already has investments in Germany, having bought SEB's (>> Skandinaviska Enskilda Banken AB) retail business and General Electric's (>> General Electric Company) GE Money Bank in recent years. It was also once interested in buying Deutsche Postbank, now owned by Deutsche Bank (>> Deutsche Bank AG).
However, billions of euros of risks in Commerzbank's books related to shipping and real estate loans are expected to make the bank a tough sell to any potential buyers, including Santander.
Mi sembra una buona notizia per i possessori di bond commerz, come me![]()
Potrebbe essere la Porta di entrata in Germania,cmq Santander è sempre pronta a prendere a saldo,ha una liquidità tale.
Ps.Potrebbero utilizzarla per qlc tender sti barboni
