Deutsche Bank explores merger with Commerzbank: reports 


Deutsche Bank AG’s Chairman Paul Achleitner is considering a merger with rival Commerzbank AG and is speaking with top investors and government officials about the potential tie-up, Bloomberg reported late Thursday. Sources told the news outlet there have been no formal talks yet between the two German banks and that a deal isn’t seen as imminent.

Deutsche Bank said in a statement that the chairman is constantly asked about this matter. “His answer is always the same: ‘All the pro and contra arguments can be read in analyst reports and the media. So what do you think? He sees no reason to actively raise this issue.”

A representative from Commerzbank wasn’t immediately available for a comment.

Deutsche Bank shares fell 1.5% in Friday’s trade, while Commerzbank shares were down 2.8%.

The Deutsche Bank stock is down more than 40% year-to-date following a string of bad news.

Last week, the U.S. Federal Reserve designated DB’s U.S. business in “troubled condition,” while S&P Global Ratings downgraded the company over concerns related to its restructuring plans.

Source: MarketWatch – Deutsche Bank explores merger with Commerzbank: reports

Leave a Comment

Broker Cyprus TopFX