Two top shareholders skeptical of Deutsche-Commerzbank merger: sources

FRANKFURT - Two top shareholders in Deutsche Bank are skeptical about a merger with its rival Commerzbank, doubting that such a combination would guarantee higher returns, people familiar with the matter said.

Those in favor of a merger say a tie-up would create a bank with an equity market value of more than 24 billion euros , based on Friday’s closing share prices, and a 20 percent share of the German retail banking market.A merger would cost time and money, and it would in no way guarantee better returns, a person close to a top-10 Deutsche Bank shareholder said on Monday.

The views of the two major investors contrast with those of U.S. investor Cerberus Capital Management, a major shareholder in both banks. A person familiar with the matter said last month that Cerberus was open to a merger, increasing the chances of a tie-up. Berlin based BGA, the Federation of German wholesale, foreign trade and services, which represents large and mid-sized export businesses said a merger could make sense if it resulted in one German player surviving in the longer run.

Job losses again.

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