German gov't says Commerzbank steps are start to its exit

BERLIN, March 13 Wed Mar 13, 2013 7:02am EDT

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BERLIN, March 13 (Reuters) - Germany's government welcomes a raft of measures by Commerzbank that will reduce its stake in the bailed-out lender as steps that will strengthen its capital and investors' confidence in the bank, a finance ministry spokeswoman said on Wednesday.

"It is pleasing that Commerzbank is getting ... core capital on the capital market given the expected Basel III requirements. In this way, (the bank) continues to strengthen its capital structure significantly," the spokeswoman said.

"This repayment and the lower equity stake of the government following the capital measures mark ... a market-friendly start to the exit," she added. (Reporting by Matthias Sobolewski, writing by Annika Breidthardt)

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