A major bank bailout - Germany's Commerzbank is partially nationalized (09.01.2009) je 08

Germany's second biggest bank, Commerzbank, is allowing itself to be partly nationalized, so it can get funding to take over Dresdner Bank. The government is to take a 25-percent stake in Commerzbank in exchange for 10 Billion euros of additional capital from the federal bailout fund. The capital injection comes as Commerzbank nearly completed its takeover of Dresdner Bank from Allianz -- but then ran out of money to complete the transaction. +++SYN-MAZ+++