Executives of Deutsche Bank and Commerzbank are increasingly open to the idea of a merger of Germany’s two largest banks, magazine Der Spiegel reported on Tuesday, September 11.
The Magazine cited one person as saying that Commerzbank CEO Martin Zielke “would rather do it today than tomorrow,” but that new Deutsche Bank CEO Christian Sewing had said internally that a merger was not on the agenda in the next 18 months.
It added that Finance Minister Olaf Scholz could also envision a deal to combine the two lenders. The German government still owns a 15% stake in Commerzbank after bailing it out during the financial crisis.
Full Content: Spiegel Online
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