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BREAKING NEWS

Merkel on Commerzbank - German government has no fixed position on mergers

Merkel on Commerzbank - German government has no fixed position on mergers
FILE PHOTO: German Chancellor Angela Merkel looks on as she attends a news conference at the Chancellery in Berlin, Germany, May 16, 2019. REUTERS/Fabrizio Bensch -
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FABRIZIO BENSCH(Reuters)
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BERLIN (Reuters) - Chancellor Angela Merkel, when asked about Commerzbank, said on Thursday that the German government has no fixed position on mergers.

Asked if she was in favour of Dutch bank ING taking a stake in Commerzbank, she said: "Regarding the banking landscape, those are private sector decisions."

"There is no precedent from the German government for anything that develops in this area," Merkel told a news conference with Dutch Prime Minister Mark Rutte, adding that there were no bans on international cooperation.

The organisation that defends shareholder interests in the Netherlands on Wednesday called on ING Groep to clarify whether it is interested in acquiring German rival Commerzbank.

(Reporting by Michelle Martin; Editing by Paul Carrel)

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