Deutsche preparing alternative to Commerzbank merger - report

EPA-EFE / JUSTIN LANE

Deutsche Bank AG is readying an alternative plan for its investors for the case the merger talks with Commerzbank AG fall through, media reported on Thursday.

Allegedly, Chief Executive Officer Christian Sewing is contemplating two strategies after being pressured by Deutsche's top shareholders to prepare alternatives to the merger. The first plan can be considered an update of the current strategy, with higher and faster cost cuts being in focus, while the second alternative would represent a much bigger shift in the overall strategy of Germany's banking giant, sources told Bloomberg.

Earlier, local media in Germany claimed Commerzbank refused to enter merger talks with Dutch ING.

Baha Breaking News (BBN) / MD