Deutsche Bank management board reportedly agrees to Commerzbank merger talks

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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.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.

 

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The American With the Toughest Job in Finance: Saving Deutsche BankMatt Zames of Cerberus Capital has a colossal mess to help clean up at the German giant, which has posted a string of disappointing results, has been designated a ‘troubled institution’ by the Federal Reserve and faces pressure to merge with a rival. To the bank, Cerberus is at once a shareholder, paid adviser and customer. Yeah, really don't care. They gave The Mad King funds to run this country into the ground! Hope they fall! Well... they could start by getting out of laundering money for the Russian Oligarchs. Not that tough. Fire the the entire top 4 layers of management.
Источник: WSJ - 🏆 98. / 63 Прочитайте больше »