BayernLB Deal Negotiations Continue, German Savings Banks Say

Bavaria’s savings banks said that talks are continuing on a deal to restructure Bayerische Landesbank, Germany’s second-biggest state-owned lender, in return for European Union approval of its bailout.

“The negotiations on the role of savings banks in BayernLB’s restructuring are still ongoing,” Theo Zellner, president of the Bavarian Savings Bank Association, said today in an e-mailed statement. “The talks have not broken down,” he said.