March 11, 2019 / 8:29 AM / a month ago

Shares in Deutsche, Commerzbank rise on merger speculation

FRANKFURT, March 11 (Reuters) - Markets welcomed the prospect of a merger between Deutsche Bank and Commerzbank on Monday with shares in both lenders trading higher following reports that Germany’s largest banks are exploring the feasibility of a merger.

Germany’s Welt am Sonntag newspaper was the first to report on the early stage merger talks, and said Berlin politicians expect a decision in the coming weeks.

Deutsche Bank agreed to hold tentative talks with Commerzbank, a person with knowledge of the matter told Reuters on Saturday.

Deutsche and Commerzbank declined to comment on the prospects of a merger.

Deutsche Bank shares were up 1.6 percent higher while Commerzbank shares were 4.3 percent higher at 0820 GMT, outperforming Germany’s blue-chip DAX index which was 0.4 percent higher.

Proponents of a merger say that a tie-up would give a combined entity — which would have an equity market value of more than 24 billion euros ($27 billion) based on Friday’s closing share prices — a 20 percent share of the German retail banking market. (Reporting by Edward Taylor Editing by Keith Weir)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below