Deutsche Bank was set on Sunday to confirm merger talks with fellow German lende...
FILE PHOTO: Banners of Deutsche Bank and Commerzbank are pictured in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, September 30, 2016. REUTERS/Kai Pfaffenbach/File Photo
FRANKFURT - 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.“But there is no guarantee that there will be a deal in the end,” the person said.Reporting by Tom Sims and Andreas Framke; Editing by Ed Taylor and Ludwig Burger and Keith Weir
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