Chancellor Angela Merkel says the German government shouldn’t get involved in exploratory talks between Deutsche Bank and Commerzbank on a possible merger.
Deutsche Bank, Germany’s biggest bank, and Commerzbank announced Sunday they would discuss a possible combination. Media have reported that Merkel’s finance minister and vice chancellor, Olaf Scholz, favors a deal, which would bring together two lenders that have been troubled over recent years. Many analysts are skeptical.
Merkel said Tuesday: “I think such things are private business decisions, and would argue very much for the government not intervening with a vote.”
She added that the government will “have a certain interest in evaluating” the eventual result of the discussions, because it holds 15 percent of Commerzbank. “But that is a small stake.”