FRANKFURT, Oct 3 (Reuters) - Deutsche Bank aims to take over more than 75 percent of private bank Sal. Oppenheim in an initial move, according to abstracts from an article due to appear in Welt am Sonntag (WamS) newspaper on Oct. 4.
Citing financial market sources, Germany's biggest bank intends to agree a control contract with the rival in a bid to signal easy integration and future stability, WamS said.
A deal between the two is targeted by the end of October.
Deutsche Bank on Saturday declined to comment on the report.
The Luxembourg-based bank posted a loss for the first time in its post-war history last year, hurt by the financial crisis.
Deutsche is primarily attracted by Sal. Oppenheim's business with wealthy customers while Oppenheim's investment banking operations are being eyed by Italy's Mediobanca and Australia's Macquarie.
(Reporting by Philipp Halstrick) Keywords: DEUTSCHE/SALOPP (vera.eckert@reuters.com; +49 69 7565 1272; Reuters Messaging: vera.eckert.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Citing financial market sources, Germany's biggest bank intends to agree a control contract with the rival in a bid to signal easy integration and future stability, WamS said.
A deal between the two is targeted by the end of October.
Deutsche Bank on Saturday declined to comment on the report.
The Luxembourg-based bank posted a loss for the first time in its post-war history last year, hurt by the financial crisis.
Deutsche is primarily attracted by Sal. Oppenheim's business with wealthy customers while Oppenheim's investment banking operations are being eyed by Italy's Mediobanca and Australia's Macquarie.
(Reporting by Philipp Halstrick) Keywords: DEUTSCHE/SALOPP (vera.eckert@reuters.com; +49 69 7565 1272; Reuters Messaging: vera.eckert.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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