French incursion jumpstarts Deutsche-Commerz talks, says CGAThompson:
The management board of Deutsche Bank has agreed to hold talks with rival Commerzbank to study the feasibility of a merger, according to a Reuters article on March 9, citing a person with knowledge of the matter.
First unofficial contacts took place within a very small group and the mandate from Deutsche's board was given more than a week ago, said the person, who Reuters reported speaking on condition of anonymity. Talks were at a very early stage and could fall apart, the person added, confirming information reported earlier by the Welt am Sonntag newspaper.There has been widespread speculation about a possible merger between Germany's two largest listed lenders for months, heightening under the tenure of Finance Minister Olaf Scholz, who has emphasised the importance of strong banks.
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