Commerzbank spikes on ING merger rumors

Thursday, 06. June 2019 13:07

Commerzbank AG was briefly suspended in trading in Frankfurt on Thursday on volatility. Shares surged 4.13% upon an unconfirmed report that the government of Germany, the biggest shareholder with its 15.5%, analyzed with the Netherlands the possibility of a merger with ING Groep NV.

The ailing German lender, which lost its place in the DAX stock index was 2.63% higher at €6.515 per share at 12:51 pm CET. It gained 12.66% since the start of the year, outperforming only slightly the benchmark Stoxx Europe 600 index, which is 11.49% higher. The negotiations with Deutsche Bank about a merger ended on April 25.

ING advanced 0.27% to €9.917 in Amsterdam.

Related Links: ING Groep N.V.Commerzbank AG
Breaking the News / IT