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Deutsche-Commerzbank tie-up opposed by 43 percent of Germans in poll

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Deutsche-Commerzbank tie-up opposed by 43 percent of Germans in poll
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) – Some 43 percent of Germans are against a merger between Deutsche Bank and Commerzbank, a survey showed on Friday, while only 17 percent are in favour.

The Insa survey of 2,012 people for Bild newspaper also found that 30 percent of those polled had no opinion about a merger between Germany’s two largest banks, while 10 percent did not answer the question.

When only considering those with an opinion, 71 percent were against a merger, while 29 percent were in favour, Bild reported. Older respondents were more likely to disapprove.

It did not detail what reasons, if any, had been given for the choices by those polled.

Deutsche Bank declined to comment on the survey, while Commerzbank was not immediately available.

The two banks announced last week that they were in talks to merge. Together they employ about 140,000 people, and unions have warned that a tie-up could result in as many as 30,000 job losses.

Frank Strauss, a member of Deutsche Bank’s management board, said he understood the concerns of employee representatives.

Strauss told the Frankfurter Allgemeine Zeitung that Deutsche Bank had found solutions in the interests of all parties when it integrated Postbank.

(Reporting by Tom Sims; Editing by Alexandra Hudson and Alexander Smith)

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