Commerzbank Has EU500 Mln Charge for T-Online, Die Welt Says

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From: "Michał 'Amra' Macierzyński" <m...@p...pl>
Newsgroups: pl.biznes.banki
Subject: Commerzbank Has EU500 Mln Charge for T-Online, Die Welt Says
Date: Tue, 12 Nov 2002 11:19:54 +0100
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[ ukryj nagłówki ]
By Balduin Hesse

Frankfurt, Nov. 11 (Bloomberg) -- Commerzbank AG, Germany's fourth-largest
bank, wrote down the value of its stake in T-Online International AG by
about 500 million euros ($505.3 million), the German daily Die Welt said,
citing no one.

Commerzbank owns a 2.1 percent stake in T-Online, Deutsche Telekom AG's
Internet unit, the paper said in an e-mailed copy of an article to appear in
tomorrow's publication. The company has other ``unrealized charges'' in
Italy's Assicurazioni Generali SpA, in which it owns a 1.4 percent stake,
and Spain's Santander Central Hispano SA, where it has a 2.4 percent stake,
the paper said.

The Frankfurt-based lender had a loss of 130 million euros in the third
quarter, Die Welt added.

--
Michal 'Amra' Macierzynski
www.prnews.pl - swiat e-bankow