FRANKFURT - Deutsche Bank and Commerzbank favor a straightforward merger over more complex ways to structure a deal, three people close to the matter said.
“The holding structure is dead,” one of the people said, referring to setting up a holding company that would buy Deutsche and Commerzbank in return for shares of the new bank. The people cautioned that no decision has yet been taken on a potential deal structure and there is still no certainty that a deal will be struck at all.Regulators in the United States, Britain and Switzerland tend to favor the bank holding company structure, in part because it can help with the winding down of a troubled bank.
As part of a deal, Deutsche Bank will be asked by the European Central Bank to raise fresh funds to plug capital holes resulting from asset revaluations and expected restructuring costs, a person with direct knowledge of the matter said earlier this week.
Each of them is simply too big to fail and there is no way, no way to rescue either of them (!) if a Bank-Run is triggered by another crisis anywhere in the world. That’s the main concern here.
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