FRANKFURT (dpa-AFX) - The German government is involved in talks to simplify a potential merger between Deutsche Bank AG (DB) and Commerzbank AG (CRZBY.PK), Bloomberg reported citing people familiar with the matter.
The high-level discussions -- which have included Finance Minister Olaf Scholz and Deutsche Bank Chief Executive Officer Christian Sewing-- are looking at concrete ways the government can assist in a potential combination of the country's two largest lenders. The talks include potentially changing existing laws to make the steps necessary for a merger less costly, the report said.
Nonetheless, talks about a merger are in an exploratory phase and other possibilities such as seeking fresh investment from existing or new shareholders are also still being considered, the report said. Deutsche Bank referred to earlier Sewing comments that the CEO doesn't plan to make any major strategic moves over the next 18 months.
Copyright RTT News/dpa-AFX