Germany has made it clear that it will hold onto its remaining shares in Commerzbank for the foreseeable future, affirming that the bank’s strategy remains focused on maintaining its independence. This was confirmed by Germany’s Finance Agency on Friday,

UniCredit was able to buy 4.5% of Commerzbank from the German state because the government trusts the Italian bank, its CEO said in a newspaper interview, ruling out any "aggressive" moves such as an unsolicited buyout bid.

Henrik Förster in Zurich, looking at the message Andrea Orcel is sending to his fellow bank CEOs in Europe. Also today, Nippon Steel is mounting a last-ditch push for US Steel and a former NBA player is buying 10% of the Milwaukee Bucks.

UniCredit CEO Andrea Orcel stated that a merger with Commerzbank could deliver substantial value for stakeholders, strengthening both banks in the German market. Orcel highlighted potential savings in central

The government said it won’t offload any additional shares in the bank following the sale to UniCredit for €702 million. The move marks an U-turn for the government.

Germany will not sell any more shares in Commerzbank for the time being and the bank's strategy is "geared towards independence," the nation's finance agency said on Friday.

Opposition within the German government to a potential takeover of Commerzbank by UniCredit is solidifying, amid anger at the way the Italian bank acquired its 9 per cent stake and concern over potential macroeconomic risks a merger might pose to the German economy.