Commerzbank faces timing dilemma over rights issue

11 January 2013 | By George Hay, Olaf Storbeck

The German lender looks undercapitalised on new Basel III rules, has state aid to repay, and the shares are up a third since November. Financially, it should raise capital sooner rather than later. Politically, Germany’s 25 pct stake and looming elections argue the opposite.

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