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Deutsche-Commerzbank tie-up should not create big investment bank - BlackRock

Deutsche-Commerzbank tie-up should not create big investment bank - BlackRock
FILE PHOTO: Outside view of the Deutsche Bank and the Commerzbank headquarters in Frankfurt, Germany, March 18, 2019. REUTERS/Ralph Orlowski/File Photo   -   Copyright  Ralph Orlowski(Reuters)
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FRANKFURT (Reuters) – The aim of a potential merger between Deutsche Bank and Commerzbank should not be to create a large investment bank because that “will not work”, a major shareholder in both banks said on Friday

“What problem are we trying to solve here? … That part is yet missing from this discussion,” Philipp Hildebrand, the vice chairman of U.S. investment group BlackRock , who was speaking at a conference in Frankfurt, said.

“The one thing that I’m convinced will not work is … if the objective in this operation is to try yet again to create a large, U.S.-inspired investment bank operation.”

(Reporting By Francesco Canepa. Editing by Jane Merriman)

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