UPDATE 3-Commerzbank moves closer to repaying government


* Commerzbank to issue 2.44 billion shares at 2.18 euros * Shareholders offered 10 new shares for each 11 held * Priced at 45 percent discount to Friday's close * Proceeds to help repay state aid * Shares fall 3 percent, underperforming sector (Adds background) By Arno Schuetze FRANKFURT, May 23 (Reuters) - Germany's Commerzbank took a big step towards paying back a government bailout on Monday when it priced a 5.3 billion euro ($7.5 billion) share issue at a 45 percent ...

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