Altmaier: Further State Participations – Decision on Commerzbank 2021 | 11.07.20

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According to Federal Minister for Economic Affairs Peter Altmaier (CDU), the German state will participate in other companies at risk of existence in the corona crisis after Lufthansa.

At Lufthansa, the state would be a possible one Job cuts do not block, said the minister of the Frankfurter Allgemeine Zeitung (FAZ – Saturday edition).

For the participation in Commerzbank, he called for a decision in the coming year. “I think it is right that after the next Bundestag election we will make a decision as to which state holdings should be privatized in order to prevent an increase in state influence. I see a good chance that the situation at Commerzbank will stabilize by then.”

At Lufthansa, the state will not stand in the way of possible layoffs, said Altmaier. “If the board comes to the conclusion that layoffs are inevitable, it is up to the social partners to negotiate responsibly.” He also sees no sense in the fact that officials decide which restructuring measures are right or wrong.

When it comes to expanding state holdings, “we are probably talking about a few dozen cases. In this very limited number of cases, we will take advantage of the opportunities offered by the Economic Stabilization Fund and, if necessary, also participate,” said the minister.

Other strategic investments, such as that in the vaccine manufacturer CureVac, are apparently planned. But there will be only “few” of them. “I have always made it clear that government participation must be the absolute exception,” Altmaier told the newspaper.

FRANKFURT (Dow Jones)

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https://www.finanzen.at/nachrichten/aktien/altmaier-weitere-staatsbeteiligungen-entscheidung-ueber-commerzbank-2021-1029385193

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