Deutsche Bank blames ‘press’ for fostering rumours of merger
Business daily Handelsblatt said on Tuesday that the bank had studied the effects of a theoretical tie-up with UBS, citing unnamed sources
Frankfurt — Deutsche Bank has dismissed as "fictions" speculation that it might seek a merger, after media reports suggested Germany's biggest lender might seek tie ups with Switzerland's UBS or German peer Commerzbank. Speculation about a possible merger has increased as Deutsche Bank battles to recover from three years of losses. Business daily Handelsblatt reported on Tuesday that the bank had studied the effects of a theoretical tie-up with UBS , citing unnamed people familiar with the matter. Handelsblatt's report, the latest of several in the German financial media on the issue, said the UBS scenario and a potential merger with Commerzbank was discussed at the bank's strategy meeting with the supervisory board earlier in September. Deutsche Bank CFO James von Moltke dismissed the reports as "fictions of the press". "I have to say these days we are constantly amazed at what passes through the editorial filters and gets into the press," he said. Von Moltke said the bank had a l...
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