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Deutsche Bank, Commerzbank have no mandate for merger talks - sources

Deutsche Bank, Commerzbank have no mandate for merger talks - sources
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/File Photo -
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Kai Pfaffenbach(Reuters)
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FRANKFURT (Reuters) - Deutsche Bank and Commerzbank managers have no official mandate for merger talks, two people with knowledge of the matter said on Friday.

The reaction of the two people, speaking on condition of anonymity, came after Focus magazine reported that the chief executives of the two lenders had resumed talks over a potential merger and had a mandate from their supervisory and management boards to do so.

(Reporting by Andreas Framke and Hans Seidenstuecker; Writing by Tom Sims; Editing by Arno Schuetze)

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