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Helaba Owner Says Bank Mergers ‘on Ice,’ Handelsblatt Reports

Dec. 6 (Bloomberg) -- Landesbank Hessen-Thueringen’s partial owner, the German state of Hesse, said the consolidation of the country’s Landesbanken is “on ice” until the European Commission makes decisions on government aid, Handelsblatt reported, citing Hesse Economy Minister Dieter Posch.

The state is “still open to discussions” on Landesbank Hessen-Thueringen, known as Helaba, though there is no “pressure to act” because the lender is “well positioned,” Posch told the newspaper. Hesse isn’t currently talking to other state governments about mergers, the newspaper reported.

To contact the reporter on this story: Aaron Kirchfeld in Frankfurt at akirchfeld@bloomberg.net

To contact the editors responsible for this story: Frank Connelly at fconnelly@bloomberg.net; Edward Evans at eevans3@bloomberg.net

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