Germany Opposes Commerzbank Takeover But Concedes Hands Are Tied

The German government reiterated its opposition to any takeover of Commerzbank AG while indicating its powers to intervene are limited.

Commerzbank should remain independent as it’s “very important” for Europe’s biggest economy, Chancellor Olaf Scholz’s chief spokesman, Steffen Hebestreit, said Wednesday at the regular government news conference in Berlin.

Asked if Germany would try to thwart a hostile attempt to swallow the lender, Hebestreit said: “There are no further considerations to fend off anything” beyond the government’s decision to stop selling more shares in Commerzbank for now.

Germany has been sharpening its rhetoric in favor of Commerzbank independence ...