Thursday June 4, 2020

Merger hurdles prove too high for German banking giants

The failure to agree on a deal with Commerzbank now forces Deutsche Bank, once Europe’s dominant financial institution, to come up with its fifth turnaround plan since 2015

26th April, 2019
Deutsche Bank (l) and Commerzbank (r) towers in Frankfurt. Pic: Getty

More than five weeks of negotiations and the German finance ministry’s push to forge one strong institution out of two struggling firms failed to overcome the economic and political obstacles to combining the country’s biggest listed banks.

The failure to agree on a deal now forces Deutsche Bank, once Europe’s dominant financial institution, to come up with its fifth turnaround plan since 2015 and allay investor concern about how it will...

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