mBank up for sale as Commerzbank restructures

Germany’s Commerzbank is considering selling its Polish subsidiary mBank as part of a new strategy.

The decision on the sale is expected to come after a meeting in late September, said people close to the matter.

Commerzbank, which failed in its attempt to merge with Deutsche Bank 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).

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