Deals
Deutsche Bank, UBS Asset Management Deal Talks Stall
- Neither side said willing to give up majority in a combination
- Merger would have created European money-management powerhouse
Photographer: Matthew Lloyd/Bloomberg
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Deutsche Bank AG and UBS Group AG’s talks on combining their asset management businesses to create a European powerhouse have stalled, according to people familiar with the matter.
A deal is now seen as increasingly unlikely after disagreements emerged over who would retain majority control of the combined entity, the people said, asking not to be identified as the matter is private. Deutsche Bank also delayed a decision on DWS because it preferred to keep options open for longer, the people said. No final decision has been made and a deal could still be salvaged, the people said.