Daily Management Review

Failed Merger Talks Revealed Rift Between Commezbank and Deutsche Bank


04/29/2019


Commerzbank and Deutsche Bank present different stories for failed merger talks.



Source: de.wikipedia.org; (CC BY-SA 4.0)
Source: de.wikipedia.org; (CC BY-SA 4.0)
On Friday, April 26, 2019, Commerzbank and Deutsche Bank, both presented accounts regarding the initiator of “merger talks” which differed from each other, whereby revealing a rift between them which comes on the following day the duo held their talks ending in failure.
 
The former approached the latter which is larger in size to discuss “a potential merger”, stated a senior executive member of Deutsche Bank. This initiative further opened into “intensive and frantic” talks that lasted for six weeks but bore no fruition.
 
However, the executive revealed the news on media call on a condition to maintain anonymity, while the above mentioned approached was the “first indication” of the bank to have initiative a discussion with the top lenders of Germany.
 
On the other hand, the spokesperson of Commerzbank, altogether denied the Deutsche Bank’s version of the information, while stated that the discussions “started jointly and they ended jointly”, revealed Reuters.
 
 
References:
reuters.com







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