Deutsche Bank management board agrees to Commerzbank
merger talks: source
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 [March 09, 2019]
FRANKFURT (Reuters) - The
management board of Deutsche Bank has agreed to hold talks with rival
Commerzbank on the feasibility of a merger, a person with knowledge of
the matter told Reuters on Sunday.
The source, who spoke on condition of anonymity, confirmed information
reported earlier by the Welt am Sonntag newspaper.
The person said that first unofficial contacts have taken place in a
very small group and that talks were at a very early stage.
A spokesman for Deutsche Bank and a spokeswoman for Commerzbank both
declined to comment.
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Banners of Deutsche Bank and Commerzbank are pictured in front of
the German share price index, DAX board, at the stock exchange in
Frankfurt, Germany, September 30, 2016. REUTERS/Kai Pfaffenbach/File
Photo
Speculation about a possible merger between the two banks has been rife for
months, heightening under the tenure of Finance Minister Olaf Scholz, who has
spoken out in favor of strong banks.
Both lenders have struggled to return to sustainable profitability since the
global financial crisis.
(Reporting by Tom Sims and Andreas Framke; editing by John Stonestreet)
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