Deutsche Bank, Commerzbank increasingly open to merger - Spiegel
* Commerzbank CEO would prefer merger soon - Spiegel
* Deutsche Bank CEO sees no merger in next 18 months -
* German Finance Minister could imagine a deal - Spiegel
* Commerzbank shares jump as much as 4 percent
(Adds share prices, trader comment, background)
BERLIN, Sept 11 (Reuters) - Executives of Deutsche Bank
and Commerzbank are increasingly open to
the idea of a merger of Germany's two largest banks, magazine
Der Spiegel reported on Tuesday.
It cited one person as saying that Commerzbank Chief
Executive Martin Zielke "would rather do it today than
tomorrow", but that new Deutsche Bank CEO Christian Sewing had
said internally a merger was not on the agenda in the next 18
It added that Finance Minister Olaf Scholz could also
imagine a deal to combine the two lenders.
"We do not comment on banks' strategic decisions," a
spokeswoman for the German Finance Ministry said. The German
government still owns a 15 percent stake in Commerzbank after
bailing it out during the financial crisis.
Deutsche Bank and Commerzbank both declined to comment.
The news sent shares in Commerzbank as much as 4 percent
higher to a four-week high at 8.74 euros.
Shares in Deutsche Bank were 0.8 percent higher at 9.66
euros by 1418 GMT, outperforming a 0.5 percent slide by
Germany's blue-chip DAX index.
Deutsche Bank, which has bought German peers Postbank and
Sal. Oppenheim over the last decade, also held talks with
Commerzbank over a potential merger in 2016.
At the time, the two lenders shelved the project as they
wanted to complete their restructuring efforts before taking any
steps in the direction of a merger.
(Reporting by Maria Sheahan
Additional reporting by Michelle Martin, Andreas Framke, Hans
Seidenstuecker and Andrea Lentz
Editing by Keith Weir)
First Published: 2018-09-11 16:10:03
Updated 2018-09-11 16:41:59
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