German bank merger crumbles as Deutsche Bank tie-up talks with Commerzbank end


Let's start with the main event. A big story this morning, Deutsche Bank and Commerzbank. The talks are Hoover. I want to bring in Bloomberg's Matt Miller to get up. To speed on the end of merger talks. What broken well Berlin has been against this really from from day one with the exception of the finance ministry, Olaf Scholtz and his deputy your cookies were really the driving force behind these talks to begin with. But as soon as people started talking about thirty to forty thousand job cuts as a result. It just was it just was a bad look for everybody here and Anglo miracle and the rest of the and the rest of the powerful politicians in the capital fought against it. So from Deutsche Bank perspective, it was just at least what they said this morning, it just proved to be too expensive and too complex to pull off. But from a political perspective, it just wasn't gonna fly so coma. Spanked potentially have got other downspouts we've seen in the news. I and cheer interested. We've seen in the news several reports that only credit is said to be interested as well. Where does it leave? What you back, man. Yeah. I actually asked. To the CFO James von Moltke this today because obviously by stepping out of the running to buy Commerce Bank. They leave themselves open to competition in the future. If someone else comes in buys Commerce Bank. They can get big in Germany, listen to what on mulkey told me. Yes, we do envisage over time that industry consolidation will take place in Europe, and the dodger bunk wants to be part of that the timing and the specific form of that obviously remains to be seen. We've talked a lot about doing our homework to continue executing on our plans executing on the restructuring of the company and the improvement in our shareholder returns. So not only did they discuss the facts that Commerce Bank could become really serious competition. If they get taken over by European competitor. They do want to stay in the consolidation of European banks going forward just not right now

Coming up next