The merge between Commerzbank and Dresdner Bank may be stopped
Strengthen signals are received that in August will be decided for unification between Commerzbank and Dresdner Bank, wrote "Handelsblat. The deal between the two financial institutions is not impossible but would be difficult to implement, say internal sources. However, there is a large speculation in this direction.
Two months both banks carefully checked each other trade reports. Commerzbank, Drezdner Bank and the concern parent Allianz is the refusal of official statements. Inside sources claim that the merger will be completed after 31 August.
Dresdner Bank intends by the end of the month to split from the company's consumer business and to be entered in the commercial register. In recent months, shares of Allianz lost 30 percent of its value, which led to losses for Drezdner Bank. Allianz expectations after the purchase of Drezdner Bank for 24 billion euros in 2001 have crash. Apart from Commerzbank, Drezdner Bank is interested in the Chinese and Russian Development Bank and Sberbank.
Commerzbank and Drezdner Bank faces a problem of valuation of the shares to the financial crisis. At the same time they can not extend the time for negotiations.
Labels: Business News
posted by Zoritza Petrova @ 11:49 PM
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