According to two sources with knowledge of the matter at hand, “As of today there is definitely no date when a decision will be taken on whether the discussions will proceed.”
According to two sources familiar with the matter at hand, Deutsche Bank and Commerzbank are divided over the pace of their merger talks. Commerzbank is looking to see a speedy decision on whether to deepen the discussions or not. Deutsche Bank however is looking for more time.
On March 17, Deutsche Bank and Commerzbank, Germany’s two largest banks, had announced that they were holding merge talks.
Significantly, the differences on the timeline are not likely to materially derail the talks
Following the commencement of the formal talks Commerzbank CEO Martin Zielke told bankers that management is looking for a decision on “whether to go forward with a merger” in the next two to three weeks, said two sources with knowledge of the matter at hand.
Following this, in a memo to employees days later, Zielke had stated, he would aim “to ensure that a decision is reached soon.”
With the two-to-three week timeline coming to a close, speculation is rife that a decision could be imminent.
German business magazine WirtschaftsWoche stated, Commerzbank’s executive board is shceudled to take a call on April 9, on whether it should intensify merger talks with Deutsche Bank or back away from a deal.
Both Deutsche Bank and Commerzbank declined to comment on the report.
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