The management board of Deutsche Bank has agreed to hold talks with rival Commer...
FRANKFURT - The management board of Deutsche Bank has agreed to hold talks with rival Commerzbank on the feasibility of a merger, a person with knowledge of the matter told Reuters on Saturday.
The person said that first unofficial contacts had taken place in a very small group and the mandate from Deutsche’s board was given more than a week ago, the person said.A spokesman for Deutsche Bank and a spokeswoman for Commerzbank both declined to comment. Deutsche is regarded as one of the most important banks in the global financial system, but has been plagued by three years of losses, ratings downgrades, failed stress tests, and money laundering scandals.
The two banks flirted with a merger in 2016 but talks fizzled out after both banks decided to focus on restructuring.
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