Deutsche Bank in talks over Commerzbank merger
Deutsche Bank has begun tentative merger talks with rival Commerzbank, which would create Europe’s second biggest bank behind HSBC
Deutsche Bank chief executive Christian Sewing had been opposed to a multibillion euro merger, but investor pressure – Deutsche’ shares are trading at around €7.68 compared with €32 five years ago – is understood to have forced his hand.
It’s also been reported that the banks have come under political pressure to consider a merger and avert a foreign takeover of Commerzbank.
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