Deutsche Bank and Commerzbank on Sunday confirmed they were in talks to possibly merge, an indication that efforts to combine Germany's two largest lenders are gaining pace.
Deutsche Bank and Commerzbank confirmed on Sunday they were in talks about a merger, prompting labor union concerns about possible job losses and questions from analysts about the merits of a combination.
Sewing said many factors could still prevent a merger and a Deutsche spokesman said the talks were expected to last some time. Commerzbank described the outcome as open. A merged bank would likely be the third largest in Europe after HSBC and BNP Paribas, with roughly 1.8 trillion euros in assets, such as loans and investments, and a market value of about 25 billion euros."We do not see a national champion here, but a shaky zombie bank that could lead to another billion-euro grave for the
"There may not be an ownership by the federal government in a merged big bank indirectly through an old stake. We do not need a German State Bank AG," he told Reuters. Jan Duscheck, head of the union's banking division and a member of Deutsche's supervisory board, said the union would raise its concerns on both banks' oversight bodies.
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