Brussels, 07/05/2009 (Agence Europe) - On Thursday 7 May, the European Commission approved the partial nationalisation of Germany's second largest private bank, the Commerzbank, but only on condition that it makes some large-scale divestments. Berlin intends to take 25% of the bank's capital in exchange for an injection of €10 billion, coming on top of €8 billion awarded at the end of 2008.
Commerzbank will focus on its core businesses - retail and corporate banking - and will give up...