Germany Reportedly Open to Commerzbank, Deutsche Bank Tie-up
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The German government is open to a merger between the country’s two biggest listed banks, a magazine report said Tuesday.
German Finance Minister Olaf Scholz “could envisage” a tie-up between Deutsche Bank AG and Commerzbank AG, Spiegel reported, without saying how it obtained the information. It said that Deutsche Bank Chief Executive Officer Christian Sewing and Commerzbank CEO Martin Zielke are also open to the idea. The government owns a 15.5 percent stake in Commerzbank.