Comdirect Reportedly Acquires Societe Generale’s German Brokerage Arm

[kreslik.news]

Commerzbank’s online banking unit, Comdirect bank AG, said Friday it has reached an agreement to acquire the entire shareholding in the German online broker Onvista AG, a subsidiary of the Boursorama S.A. which is wholly owned by France’s second-biggest bank Societe Generale Group.

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Comdirect bank AG said the acquisition, which must be approved by the German bank’s supervisory board and by regulators, will give the bank a strong boost in the development of its brokerage business in Europe.

It would enable the group, which is ... (read more)