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Deutsche Bank Is Seeking Merkel’s Nod for Commerzbank Deal

  • Government will hammer out its position in high-level talks
  • Chancellor is skeptical that a deal will fix banks’ problems
Angela Merkel

Angela Merkel

Photographer: Krisztian Bocsi/Bloomberg

Deutsche Bank AG is seeking political cover from Chancellor Angela Merkel as it tries to move forward a possible merger with Commerzbank AG.

Executives are looking for reassurances they’ll get government backing for potential job cuts as they consider going public with their potential plans, according to people involved in the discussions. While the German Finance Ministry has encouraged the struggling banks to combine, Merkel has stayed on the sidelines so far, the people said, asking not to be identified discussing private deliberations.