6/10/2019, 1:58 PM (Source: TeleTrader)
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ING no longer interested to buy Commerzbank - report

The Dutch ING Group has lost interest in acquiring Commerzbank AG, the Handelsblatt reported on Monday, stating UniCredit S.p.A. and BNP Paribas S.A., which were also considered as possible bidders, decided against pursuing the deal.

Earlier, rumors arose governments in Berlin and Amsterdam talked about a possible merger between the two banks, shortly after the second-biggest German lender ended its merger talks with rival Deutsche Bank AG. According to the news, however, the states did not want to interfere in the strategy of the private banks

Michael Huonseler, an asset manager for Assenagon, told the German newspaper it was only a matter of time before the Commerzbank is bought, as it "done everything it can to dress up as a bride, for example by reducing ship loans and other fringe activities."

Breaking the News / MD