The European Central Bank will ask Deutsche Bank to raise fresh funds before it ...
FRANKFURT - 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 demand could complicate a bid to create Europe’s third-largest bank from Germany’s top two lenders, Deutsche and Commerzbank, who have struggled to recover since the financial crisis. A merged entity could need up to 10 billion euros of fresh capital because of restructuring costs and the fact that losses on investments could be triggered by a tie-up.
The banks announced on March 17 that they were in talks to merge and a preliminary decision on whether they want to go forward with a merger is expected within days.
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