German Commerzbank Wins Eu Regulatory Approval to Wind down Its Eurohypo Mortgage Unit

German Commerzbank Wins Eu Regulatory Approval to Wind down Its Eurohypo Mortgage Unit




News
EU regulators approved Commerzbank restructuring following winding down of Eurohypo mortgage unit as part of a restructuring plan tied to its state bailout.
EU regulators extended acquisition ban for Commerzbank till March end of 2014 after EuropeanCommission cleared its 18-billion-euro bailout in the financial crisis.
Commerzbank may continue a small part of Eurohypo's commercial property business together with its own activities in Germany, France, Poland and Britain.
Quotes

"The winding down of Eurohypo on the balance sheet of Commerzbank plus a prolongation of the acquisition ban are an adequate substitute to the divestiture of Eurohypo,"


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