Commerzbank shares fell more than 10 per cent on Monday in a downbeat reaction from the German bank’s investors to its €9.8bn acquisition of Dresdner Bank, its domestic rival.
The acquisition combines Germany’s second and third largest banks to create a clear domestic rival to Deutsche Bank, with 11m private customers. However, some analysts questioned how much Commerzbank is paying for Dresdner and the timing of the move.
