ECB will ask Deutsche Bank to raise fresh funds for merger: source

The European Central Bank will ask Deutsche Bank to raise fresh funds before it gives the go-ahead for a merger with a state-backed rival, a person with direct knowledge of the matter said.

The official said that Deutsche would be required to have the buffer, which has yet to be calculated, to cope should it experience setbacks while integrating Commerzbank if a deal is agreed.

The ECB, Deutsche Bank and Commerzbank declined to comment.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)