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MarketScreener Homepage  >  Equities  >  Xetra  >  Commerzbank AG    CBK   DE000CBK1001

COMMERZBANK AG

(CBK)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 08/13 03:58:01 pm
4.813 EUR   -2.14%
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Germany could take further public stakes in companies: minister

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07/11/2020 | 05:21am EDT
Germany's Federal Economy Minister Peter Altmaier gives a news conference in Berlin

Germany will take further stakes in companies threatened by the coronavirus crisis, Economy Minister Peter Altmaier said, adding that "probably a few dozen" firms might follow airline group Lufthansa in passing into partial state ownership.

Shareholders backed a 9 billion euro government bailout last month, securing the future of Germany's flagship carrier after it was brought to the brink of collapse by the travel slump caused by the pandemic.

In an interview with Saturday's Frankfurter Allgemeine newspaper, Altmaier said: "We're talking about perhaps a few dozen cases. In these very limited number of cases we will use the possibilities offered by the economic stabilisation fund, including taking a stake where appropriate."

It was also possible that the state would buy into other strategically important companies, like vaccine maker CureVac, in that case fending off an attempt by the United States government to buy it.

"I've always made it clear that state stakes must be an absolute exception," he added.

On the airline group, which this week announced plans to cut 20% of its leadership positions and 1,000 administrative jobs, Altmaier said the government would not stand in the way of lay-offs.

Turning to another major company in which Germany holds a large stake, Altmaier said a decision on the 15% stake in Commerzbank it took to ward off its collapse during the financial crisis would be made next year.

(Reporting by Sabine Ehrhardt, writing by Thomas Escritt; Editing by Christina Fincher)

Stocks mentioned in the article
ChangeLast1st jan.
COMMERZBANK AG -2.46% 4.797 Delayed Quote.-10.86%
DEUTSCHE LUFTHANSA AG -1.21% 8.782 Delayed Quote.-45.83%
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Financials
Sales 2020 8 393 M 9 918 M 9 918 M
Net income 2020 -446 M -527 M -527 M
Net Debt 2020 - - -
P/E ratio 2020 -13,9x
Yield 2020 -
Capitalization 6 019 M 7 120 M 7 112 M
Capi. / Sales 2020 0,72x
Capi. / Sales 2021 0,71x
Nbr of Employees 47 549
Free-Float 84,4%
Chart COMMERZBANK AG
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Technical analysis trends COMMERZBANK AG
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 4,80 €
Last Close Price 4,92 €
Spread / Highest target 30,1%
Spread / Average Target -2,37%
Spread / Lowest Target -37,0%
EPS Revisions
Managers
NameTitle
Martin Zielke Chairman-Management Board
Jörg Hessenmüller Chief Operating Officer
Bettina Orlopp Chief Financial Officer
Uwe Tschäge Deputy Chairman-Supervisory Board
Alexandra Krieger Member-Supervisory Board
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