Commerzbank considers sale of Polish unit mBank: Handelsblatt
FILE PHOTO: The headquarters of the Commerzbank are pictured before the bank’s annual news conference in Frankfurt, Germany, February 8, 2018. REUTERS/Ralph Orlowski/File Photo
BERLIN (Reuters) – Germany’s Commerzbank (CBKG.DE) is considering selling its Polish subsidiary mBank as part of a new strategy, daily Handelsblatt reported on Friday.
The decision on the sale is expected to come after a meeting next week, the report said, citing people close to the matter.
Commerzbank, which failed in its attempt to merge with Deutsche Bank (DBKGn.DE) earlier this year, will hold a supervisory board meeting next week discuss the bank’s future strategy, people with knowledge of the matter have told Reuters.
The lender is due to hold a press conference on Sept. 27, the company has announced.
Commerzbank declined to comment.
Its 69.3% mBank stake has a market value of more than 2 billion euros ($2.21 billion).
Reporting by Riham Alkousaa and Tom Sims; Editing by Tassilo Hummel and Pravin Char