Wednesday, August 31, 2016

German Bank Denies Interest: fusion fantasies push to Coba shares – NEWS



 Wednesday, 31 August 2016


 Plays the German bank with the idea to merge with Commerzbank? According to one media report there are such considerations, the share prices of both titles attract then. However, German Bank CEO Cryan probably other plans.



The German bank has, according to a magazine report internally engaged in a merger with Commerzbank. “The reasoning was theoretically and therefore in a very early stage,” reported the “Manager Magazin” without giving sources. “Whether they are resumed, is unclear.” Internally, the idea would only a “very small given chance of realizing” it said in the report.

The report was the rise Commerzbank shares by more than four percent to 6.40 euros. German bank securities rose by as much as 2.8 percent. German Bank and Commerzbank are listed on the Stock Exchange, near their historic lows. The price reaction see “all the despair in German banking,” said one trader. However, the rates also benefited from a strong European banking sector, which grew by 1.5 percent. Background are the good sector templates from Wall Street. The sector benefited from speculation of an early rate hike in the US.

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In the report on the merger intentions but quickly followed by the disclaimer: For the head of Deutsche Bank John Cryan, a merger of the two largest financial institutions is not an option. “I think not,” the Briton said when asked about a possible merger with Commerzbank. “We want the German bank actually make smaller and simpler.” The German bank is currently trying to separate from the Postbank – so far in vain. CFO Marcus Schenck has plans pushed on the back burner because Postbank would currently sell only at a loss.

Cryan said at the conference “Banks in Transition”, in Germany, should rather unite smaller houses. There are too many banks in this country, because it never came to a large merger wave.



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