Deutsche Bank and Commerzbank in merger talks
- 5 years ago
Germany's two biggest lenders, Deutsche Bank and Commerzbank, have confirmed they are holding talks on a potential merger.
The possible move is being seen as a last-ditch effort to create a German powerhouse that would compete with Wall Street.
The two banks have also been struggling financially, with the German government having to buy a 15 percent stake in Commerzbank to bail it out after the financial crisis.
Analysts, however questioned the merits of such a merger, saying it would be complicated and risky.
The announcement of the talks has also prompted concerns from labor unions who fear more than 10,000 jobs could be lost due to branch closures.
The possible move is being seen as a last-ditch effort to create a German powerhouse that would compete with Wall Street.
The two banks have also been struggling financially, with the German government having to buy a 15 percent stake in Commerzbank to bail it out after the financial crisis.
Analysts, however questioned the merits of such a merger, saying it would be complicated and risky.
The announcement of the talks has also prompted concerns from labor unions who fear more than 10,000 jobs could be lost due to branch closures.