Commerzbank shares recorded a strong double-digit rise after CEO Manfred Knof announced that he would not be renewing his contract, which could trigger strategic changes.
Italian bank UniCredit also acquired new shares in Commerzbank, which is seen as potentially paving the way for closer cooperation between the two institutions. There is also speculation about a possible merger between Commerzbank and UniCredit.
This move towards a possible merger could have a significant impact on the shareholding of the Federal Republic of Germany, which held around 15.6% of Commerzbank but has reduced its stake by around 4%.
