The German bank is talking to sovereign wealth funds about becoming an anchor investor to shore up its defenses against any opportunistic takeover bid and preserve its independence, the report added, citing people familiar with the matter. The bank has also discussed internally the prospect and implications of the German government selling down its stake, the report said. Commerzbank declined to comment on the Bloomberg report.
(Bloomberg) -- Commerzbank AG is talking to sovereign wealth funds about becoming an anchor investor to shore up its defenses against any opportunistic takeover bid and preserve its independence, people familiar with the matter said.Most Read from BloombergPutin Seizes Rights to St. Petersburg Airport From Foreign InvestorsBanking Escapees Make Billions From Private Credit BoomIsrael Says Hamas Violated Terms of Cease-Fire as Truce LapsesBonds Up as Powell Pushback Lasts ‘A Few Seconds’: Markets
The services will be aimed at institutional and corporate clients, and the first product will be a custody service for the cryptocurrencies bitcoin and ether, a spokesperson for Commerzbank said via email.