September 20, 2019 / 11:22 AM / 2 months ago

Commerzbank considers sale of Polish unit mBank: Handelsblatt

FILE PHOTO: The headquarters of the Commerzbank are pictured before the bank's annual news conference in Frankfurt, Germany, February 8, 2018. REUTERS/Ralph Orlowski/File Photo

BERLIN (Reuters) - Germany’s Commerzbank (CBKG.DE) is considering selling its Polish subsidiary mBank as part of a new strategy, daily Handelsblatt reported on Friday.

The decision on the sale is expected to come after a meeting next week, the report said, citing people close to the matter.

Commerzbank, which failed in its attempt to merge with Deutsche Bank (DBKGn.DE) earlier this year, will hold a supervisory board meeting next week discuss the bank’s future strategy, people with knowledge of the matter have told Reuters.

The lender is due to hold a press conference on Sept. 27, the company has announced.

Commerzbank declined to comment.

Its 69.3% mBank stake has a market value of more than 2 billion euros ($2.21 billion).

Reporting by Riham Alkousaa and Tom Sims; Editing by Tassilo Hummel and Pravin Char

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