Germany doesn't see need for decision on bank tie-up by end May - source

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 - Copyright Kai Pfaffenbach(Reuters)

By Reuters

Published on 08/02/2019 - 11:34•Updated 19/04/2024 - 08:40

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BERLIN (Reuters) - The German government does not see the need for a decision on a possible merger between Germany's two largest banks by the end of May, a government source said on Friday.

The source, speaking on condition of anonymity, was distancing the government from a report earlier on Friday from WirtschaftsWoche.

The magazine reported that a decision on a tie-up between Deutsche Bank and Commerzbank should be made before European Parliament elections at the end of May.

Deutsche Bank and Commerzbank declined to comment on the report.

(Reporting by Andreas Rinke; additional reporting by Andreas Framke and Hans Seidenstuecker; Writing by Tom Sims; Editing by Riham Alkousaa)

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