Deutsche Bank And Commerzbank Launch Merger Talks

Deutsche Bank and Commerzbank announced on Sunday they have launched exploratory merger negotiations after months of speculation that German's two biggest lenders may combine.

"We confirm that we are engaging in discussions with Commerzbank" Deutsche Bank said in a statement. "There is no certainty that any transaction will occur" the statement added. Commerzbank, on the other hand, told investors that both banks "have agreed today to start discussions with an open outcome on a potential merger."

In March, the management board of Deutsche Bank gave a green light to open talks with rival Commerzbank regarding a possible merger agreement, whereas back in February, reports indicated that a preliminary decision to either allow or prohibit a merger of the two is likely to be made prior to the European elections in May. - Istanbul