Deutsche Bank and Commerzbank confirmed on Sunday they were in talks about a merger, prompting labor union concerns about possible job losses and questions from analysts about the merits of a combination.
Sewing said many factors could still prevent a merger and a Deutsche spokesman said the talks were expected to last some time. Commerzbank described the outcome as open. A merged bank would likely be the third largest in Europe after HSBC and BNP Paribas, with roughly 1.8 trillion euros in assets, such as loans and investments, and a market value of about 25 billion euros."We do not see a national champion here, but a shaky zombie bank that could lead to another billion-euro grave for the
"There may not be an ownership by the federal government in a merged big bank indirectly through an old stake. We do not need a German State Bank AG," he told Reuters. Jan Duscheck, head of the union's banking division and a member of Deutsche's supervisory board, said the union would raise its concerns on both banks' oversight bodies.
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