Commerzbank Stake Sale Drives Another Wedge in Scholz Coalition [Yahoo! Finance Canada]
COMMERZBANK JUNGE ADR NEW (CRZBY)
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Source: Yahoo! Finance Canada
(Bloomberg) -- The German government's decision to offload about a quarter of its holding in Commerzbank AG is driving another wedge into Chancellor Olaf Scholz's fractious ruling coalition. Most Read from Bloomberg Finance Minister Christian Lindner of the business-friendly Free Democrats on Thursday defended his ministry's sale last week of a 4.5% stake to Italy's UniCredit SpA, arguing it was the right time to begin the process of exiting the German lender and it's not the government's role to create national champions. Officials working for Social Democrat Scholz in the chancellery see the matter differently and have insisted on opening an internal investigation into how the sale played out, according to people familiar with the matter. It's looking at the sequence of events and why no one involved seemed to anticipate the possibility of a strategic investor buying the entire 4.5% tranche, added the people, who asked not to be identified discussing internal business. Re
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