Germany’s Deutsche Bank and Commerzbank go public on merger talks

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, Sept. 30, 2016.Deutsche Bank and Commerzbank confirmed on Sunday they were in talks about a merger, although both warned that a deal was far from certain and analysts questioned the merits of a combination.

Mr. Sewing also said that many factors could prevent a merger, and a Deutsche spokesman said the talks were expected to last for some time. For its part, Commerzbank described the outcome as open. The government, which holds a stake of more than 15 per cent in Commerzbank following a bailout, wants a national banking champion to support its export-led economy, best known for cars and machine tools.

While the banks had not publicly commented on merger talks until Sunday, Finance Minister Olaf Scholz last Monday confirmed that there were negotiations. The merged bank would have roughly €1.8-trillion in assets, such as loans and investments, and a market value of about €25-billion euros . Deutsche, the largest bank in Germany, Europe’s biggest economy, emerged unscathed from the financial crash but later lost its footing.German officials fear that a recession or big fine, for example, could derail the bank’s fragile recovery.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Two major Deutsche Bank shareholders skeptical of Commerzbank mergerA German banking union also said on Monday it would strongly oppose any merger that resulted in large job cuts
Источник: globeandmail - 🏆 5. / 92 Прочитайте больше »

Berlin backs Deutsche Bank merger despite risk of shortfall, sources sayDeutsche Bank’s management board has agreed to hold talks with Commerzbank about the feasibility of a merger
Источник: globeandmail - 🏆 5. / 92 Прочитайте больше »