FILE PHOTO: 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, September 30, 2016. REUTERS/Kai Pfaffenbach
FRANKFURT - Germany’s Verdi labor union on Tuesday voiced strong objections to a possible merger between Deutsche Bank and Commerzbank, arguing that a combined entity would be a more attractive target for a hostile foreign takeover. The union, in a statement e-mailed to Reuters, also said that Deutsche’s biggest problem, its investment bank, wouldn’t be helped by a tie-up with Commerzbank. A merger would put at least 10,000 jobs at risk, it added.
The reaction from the union follows news over the weekend that Deutsche Bank’s chief executive Christian Sewing had agreed to hold tentative talks with rival Commerzbank. Berlin, which has been worried about Deutsche’s health, has pushed for a merger as Deutsche has struggled to generate sustainable profits since the 2008 financial crisis.It wouldn’t create a truly big bank in the European market, and the new entity would be “considerably more attractive for a hostile takeover, for example, by France,” he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Merger speculation boosts shares in Deutsche and CommerzbankShares in Deutsche Bank and Commerzbank traded higher on Monday as German busine... Buy rumors sell facts
Source: Reuters - 🏆 2. / 97 Read more »
Deutsche Bank Executives Agree to Informal Merger Talks With CommerzbankDeutsche Bank’s top executives have agreed to hold discussions with rival Commerzbank about a potential merger, as Germany’s two biggest banks suffer prolonged performance and share-price declines. wow Yeah, let's start a merger before the EU and US government start criminal probes into your business dealings with Trump and Russia No
Source: WSJ - 🏆 98. / 63 Read more »
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.
Source: WSJ - 🏆 98. / 63 Read more »
Two top shareholders skeptical of Deutsche-Commerzbank merger: sourcesTwo top shareholders in Deutsche Bank are skeptical about a merger with its riva... Job losses again.
Source: Reuters - 🏆 2. / 97 Read more »
Deutsche Bank and Commerzbank shares rally on merger talkShares of Deutsche Bank and Commerzbank surged Monday after reports that the two have agreed to hold merger talks. na bravo! was kann schiefgehen... two ailing companies rallying because of a merger talk? even if they did, it would just create a larger company that would collapse anyways
Source: CNBC - 🏆 12. / 72 Read more »
Deutsche Bank, Commerzbank CEOs resume talks over potential merger: FocusDeutsche Bank and Commerzbank's chief executives have resumed talks over a ... Together they can afford the fines Deutsche has coming D Vestager has likely a problem with that! Btw, for Danske Bank....EU banks will not touch that thing. Left to US banks and vulture funds. PayBackForNarrowMindedAttitude Once out of Commission, get a nice paying job in Washington DC for good services ?
Source: Reuters - 🏆 2. / 97 Read more »
Deutsche Bank and Commerzbank's CEOs are reportedly resuming talks over a potential mergerDeutsche Bank CEO Christian Sewing and Commerzbank CEO Martin Zielke have been in intense talks for some days, Focus magazine reports. Combining these two businesses makes no sense whatsoever if German retail banking remains a 'not for profit' endeavour. sounds like a take over, Deutsche always comes first in Germany.
Source: CNBC - 🏆 12. / 72 Read more »