Deutsche and Commerzbank shares rise in light of merger talks

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Deutsche and Commerzbank shares rise in light of merger talks

By Oliver Wade

19/03/2019

Deutsche Bank and Commerzbank shares increased yesterday after talks began over a potential merger, with Deutsche shares rising by 4 per cent to €8.15 and Commerzbank by more than 7 per cent to €7.65.

Germany’s two largest lenders confirmed “exploratory” merger talks on Sunday, putting an end to months of speculation.

However, despite Deutsche shares rising, they are still nowhere near the €112 level that was seen before the financial crisis.

The merged bank would have a market value of €25bn, hold a fifth of the Germany’s high street banking business, control around €1.8trn worth of assets and employ 140,000 people. Though, German union Verdi raised concerns that 30,000 jobs could be lost as a result of the merge, primarily due to branch closures.

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