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Deutsche Bank chairman suggests merger with Commerzbank - report
Deutsche Bank chairman Paul Achleitner has reportedly spoken to shareholders this week about a potential merger with Commerzbank.
Achleitner, who is on his third strategic overhaul and fourth chief executive officer, proposed amalgamation as a way to create one thriving German bank from two weakened ones, Bloomberg reported, citing unnamed sources.
Joerg Eigendorf, a spokesman for Deutsche Bank said: "The chairman is asked constantly about this matter. His answer is always the same: 'All the pro and contra arguments can be read in analyst reports and the media. So what do you think?'"
Deutsche Bank's falling share price - down 39% this year - could prove to be a major obstacle to any deal. Synergies leading to job reductions would meet resistance from labor unions.
Both banks was discussed combining two years ago, but failed to make any progress.
Deutsche Bank shares were down 1.04% at 9.53 at 1236 BST, while Commerzbank stock fell 0.85% to 9.39.