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.
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