December 30, 2019 / 3:21 PM / 19 days ago

Commerzbank in talks to buy Petrus Advisers stake in Comdirect - source

FILE PHOTO: A Commerzbank logo is pictured during the annual shareholder meeting in Frankfurt, Germany May 3, 2017. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - Commerzbank (CBKG.DE) is in talks with Petrus Advisers to buy its stake in Comdirect (CDBG.DE), a person with knowledge of the matter said on Monday.

Commerzbank, which owns more than 82% of Comdirect, is in the process of taking over the entire online bank.

Petrus said in December that it owns 7.5% in Comdirect.

A stake of 90% under German law would allow Commerzbank to squeeze out remaining shareholders.

Bloomberg first reported the talks.

Reporting by Tom Sims and Hans Seidenstuecker; Editing by Sabine Wollrab and David Evans

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