Deutsche Bank and Dresdner Bank have called off merger talks with “immediate effect”, ac-cording to Dresdner Bank.
Deutsche Bank and Dresdner Bank have called off merger talks with “immediate effect”, ac-cording to Dresdner Bank.
Shares in Deutsche Bank, Dresdner Bank and the insurance giant Allianz have been suspended from trading on the Frankfurt stock exchange, the company which operates the German stock market, Deutsche Boerse. Allianz is a major shareholder in both banks.
German newspapers reported yesterday that tension between the two banks over the fate of Dresdner’s investment banking unit, Kleinwort Benson, had put the planned tie-up in jeopardy.
Deutsche Bank and Dresdner Bank had announced last month that they were joining forces to create the biggest bank in Europe and one of the biggest financial forces in the world.
