Deutsche Bank and Commerzbank shares increased yesterday after talks began over a potential merger, with Deutsche shares rising by 4 per cent to €8.15 and Commerzbank by more than 7 per cent to €7.65.
Germany’s two largest lenders confirmed “exploratory” merger talks on Sunday, putting an end to months of speculation.
However, despite Deutsche shares rising, they are still nowhere near the €112 level that was seen before the financial crisis.
The merged bank would have a market value of €25bn, hold a fifth of the Germany’s high street banking business, control around €1.8trn worth of assets and employ 140,000 people. Though, German union Verdi raised concerns that 30,000 jobs could be lost as a result of the merge, primarily due to branch closures.
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