Shares of German lender Commerzbank have increased following reports that the group is working with Goldman Sachs and Rothschild in order to analyse potential M&A scenarios.
Shares for the second-largest German lender, which is still part government-owned, increased by more than 4% as of noon CET, amid rumours that either Unicredit, Crédit Agricole or BNP Paribas could plan a potential takeover of the bank.
The news comes at a politically charged time, in the aftermath of the federal election, Ms Merkel’s conservative party is still in coalition talks with the Liberals and the Greens and the position of the future finance minister has not yet been confirmed.
In 2009, the German government provided a €18.2bn rescue package, and currently holds about 15% of the group’s shares. It has recently confirmed that it has no immediate plans to sell its shares.
Commerzbank has about 1000 branches accross Germany, last year it generated a gross revenue of €9.4bn and €48bn in assets by the end of December 2016.
When approached by InvestmentEurope, Commerzbank was not available for a comment.