Germany Is Said to Seek Another Adviser for Commerzbank Stake

Germany plans to hire a bank to advise on what to do with its remaining Commerzbank AG stake, according to people familiar with the matter, after the last selldown drew criticism for allowing UniCredit SpA to swoop in.

The government is speaking to potential financial advisers and preparing to invite them to pitch for the role, the people said, asking not to be identified because the information is private. The bank could provide strategic advice on the method and timing of any future divestments, or whether it should hold onto the 12% stake, the people said.

The move will see ...