Deutsche Bank set to announce merger talks with Commerzbank - Report
Formal disclosure of talks increases the chances of concluding a tie-up between the nation`s two largest banks. A merger has long been the subject of speculation and has been pushed for by the German government amid concerns about the health of Deutsche.
Deutsche Bank was set on Sunday to confirm merger talks with fellow German lender Commerzbank, according to a person with knowledge of the matter, an indication of progress in efforts to combine the two businesses. Formal disclosure of talks increases the chances of concluding a tie-up between the nation`s two largest banks. A merger has long been the subject of speculation and has been pushed for by the German government amid concerns about the health of Deutsche.
Earlier this month a person with knowledge of the matter told Reuters that the management board of Deutsche had agreed to hold talks with Commerzbank on the feasibility of a merger.
"We are going to seriously evaluate a merger," said a person with knowledge of the matter.
"But there is no guarantee that there will be a deal in the end," the person said.
Deutsche Bank declined to comment, while Commerzbank also had no comment.
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03:59 PM IST