“The next important step is the banking union,” said Federal Finance Minister Olaf Scholz at this year’s Handelsblatt banking summit. In an interview with Handelsblatt editor-in-chief Sebastian Matthes, the SPD chancellor candidate discussed ambitions and shortcomings in the financial sector, why he considers the strict regulation of banks to be necessary and how he wants to finance his election promises. Scholz is convinced: “The fact that we want to be climate-neutral in 25 years is the most ambitious industrial modernization project that Germany has ever undertaken!” However, when asked who has to pay for it, he did not give a clear answer.
And: Germany’s largest real estate group Vonovia paves the way for the planned takeover of competitor Deutsche Wohnen. So far, the DAX group had stipulated that investors exchange more than 50 percent of Deutsche Wohnen shares for a cash offer of 53 euros per paper. Vonovia is now canceling this minimum acceptance threshold for the current offer. Financial editor Carsten Herz explains why the takeover is almost certain.
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