Germany's Verdi labor union on Tuesday voiced strong objections to a possib...
FILE PHOTO: Banners of Deutsche Bank and Commerzbank are pictured in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, September 30, 2016. REUTERS/Kai Pfaffenbach
FRANKFURT - Germany’s Verdi labor union on Tuesday voiced strong objections to a possible merger between Deutsche Bank and Commerzbank, arguing that a combined entity would be a more attractive target for a hostile foreign takeover. The union, in a statement e-mailed to Reuters, also said that Deutsche’s biggest problem, its investment bank, wouldn’t be helped by a tie-up with Commerzbank. A merger would put at least 10,000 jobs at risk, it added.
The reaction from the union follows news over the weekend that Deutsche Bank’s chief executive Christian Sewing had agreed to hold tentative talks with rival Commerzbank. Berlin, which has been worried about Deutsche’s health, has pushed for a merger as Deutsche has struggled to generate sustainable profits since the 2008 financial crisis.It wouldn’t create a truly big bank in the European market, and the new entity would be “considerably more attractive for a hostile takeover, for example, by France,” he said.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Merger speculation boosts shares in Deutsche and CommerzbankShares in Deutsche Bank and Commerzbank traded higher on Monday as German busine...
Leer más »
Deutsche Bank Executives Agree to Informal Merger Talks With CommerzbankDeutsche Bank’s top executives have agreed to hold discussions with rival Commerzbank about a potential merger, as Germany’s two biggest banks suffer prolonged performance and share-price declines.
Leer más »
Guaido urges Europe to increase sanctions against Maduro – Venezuela crisisVenezuelan opposition leader Juan Guaido called on Europe to intensify financial sanctions against the government, a day after Caracas expelled the German ambassador for 'interference'.
Leer más »
French incursion jumpstarts Deutsche-Commerz talksGermany’s largest bank, worried that BNP Paribas was coveting its quarry, Commerzbank, gave CEO Christian Sewing a mandate to discuss a tie-up three weeks ago. A nationalist sop might lubricate a deal with German policymakers. But it won’t change the underlying economics.
Leer más »
The American With the Toughest Job in Finance: Saving Deutsche BankMatt Zames of Cerberus Capital has a colossal mess to help clean up at the German giant, which has posted a string of disappointing results, has been designated a ‘troubled institution’ by the Federal Reserve and faces pressure to merge with a rival. To the bank, Cerberus is at once a shareholder, paid adviser and customer.
Leer más »
Two top shareholders skeptical of Deutsche-Commerzbank merger: sourcesTwo top shareholders in Deutsche Bank are skeptical about a merger with its riva...
Leer más »
Deutsche Bank and Commerzbank shares rally on merger talkShares of Deutsche Bank and Commerzbank surged Monday after reports that the two have agreed to hold merger talks.
Leer más »
Deutsche Bank, Commerzbank CEOs resume talks over potential merger: FocusDeutsche Bank and Commerzbank's chief executives have resumed talks over a ...
Leer más »
Deutsche Bank and Commerzbank's CEOs are reportedly resuming talks over a potential mergerDeutsche Bank CEO Christian Sewing and Commerzbank CEO Martin Zielke have been in intense talks for some days, Focus magazine reports.
Leer más »