FRANKFURT (dpa-AFX) - Deutsche Bank AG (DB) and Commerzbank AG (CRZBY.PK) executives held talks about a potential merger earlier in August but decided against pursuing a transaction as the companies focus on restructuring their own businesses first, according to media reports citing people familiar with the matter.
The reports noted that a combination would see Germany's top two banks combining their consumer businesses, with the opportunity to cut costs, and create a bigger European lender that would be able to compete more effectively. Both banks decided to focus on their internal reorganizations before revisiting a potential deal.
Copyright RTT News/dpa-AFX