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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