London — Deutsche Bank is facing resistance to its merger plans with Commerzbank from top Qatari shareholders, four people familiar with the matter say. The investors are concerned that a deal would dilute their holdings if Deutsche Bank is forced to raise equity in a share sale to help fund the deal, the sources said. The Persian Gulf nation is also seeking to negotiate other concessions before it backs the deal, the people said. Deutsche Bank shares have slumped by about two thirds since Qatar first invested about five years ago. The discontent among key shareholders adds to widening opposition to the deal, which Germany sees as a way to ensure financing to the country’s export-oriented economy during a downturn. Labour representatives on Deutsche Bank’s supervisory board say a merger would fail to strengthen the bank while prompting huge job cuts. German newspaper editorials have also blasted the finance ministry’s role in orchestrating a deal between two weakened lenders. Not ev...

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