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Bloomberg
Commerzbank AG has hired Goldman Sachs Group Inc. and Rothschild & Co. as financial advisers as the German lender faces possible takeover bids from European competitors, the Financial Times reported, citing unidentified people.
The firms are advising Commerzbank on its options and not necessarily preparing a defense strategy for any acquisition attempt, the newspaper reported one of the people as saying. Shares of Commerzbank have jumped 58 percent this year as speculation of a takeover mounted. The lender is carrying out a turnaround strategy that seeks to boost profitability by cutting costs and winning market share in the competitive
domestic retail market.