3/19/2019, 12:38 PM (Source: TeleTrader)
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Merkel against govt interference with DB, Commerzbank merger

German Chancellor Angela Merkel said on Tuesday that she is against any interference from the country's government with the potential merger between Deutsche Bank AG and Commerzbank AG.

"I think something like this is a private economic decision and am very much in favour of the German government not interfering," Merkel stressed.

On Monday, the German government said it plans to "attentively observe" merger negotiations between the country's largest lenders but noted it will give the banks freedom to make any relevant commercial decisions. Meanwhile, German Finance Minister Olaf Scholz has reportedly urged the troubled lenders to consider merging but Deutsche Bank CEO Christian Sewing insisted there was no pressure from the government for the tie-up with Commerzbank.

Breaking the News / NP