Germany’s two biggest banks are discussing a merger that could result in a national powerhouse capable of competing with Wall Street.
Deutsche Bank, Germany’s largest lender by far, confirmed Sunday that it was holding merger talks with Commerzbank. The German government holds a 15% stake in Commerzbank.
“In light of arising opportunities, the management board of Deutsche Bank has decided to review strategic options,” the company said in a statement. It cautioned that there was no guarantee of a deal.
The merger would help consolidate Germany’s crowded retail lending market by creating a single bank with combined assets of €1.9 trillion ($2.2 trillion) and roughly 150,000 employees.
Full Content: Wall Street Journal
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