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Merkel: German government shouldn't intervene in bank talks

Chancellor Angela Merkel says the German government shouldn't get involved in exploratory talks between Deutsche Bank and Commerzbank on a possible merger

Associated Press

A traffic light stands in front of the headquarters of Deutsche Bank, left, and Commerzbank in Frankfurt, Germany, Monday, March 18, 2019. Deutsche Bank and Commerzbank begin talks on a possible merger. (AP Photo/Michael Probst)

BERLIN (AP) -- Chancellor Angela Merkel says the German government shouldn't get involved in exploratory talks between Deutsche Bank and Commerzbank on a possible merger.

Deutsche Bank, Germany's biggest bank, and Commerzbank announced Sunday they would discuss a possible combination. Media have reported that Merkel's finance minister and vice chancellor, Olaf Scholz, favors a deal, which would bring together two lenders that have been troubled over recent years. Many analysts are skeptical.

Merkel said Tuesday: "I think such things are private business decisions, and would argue very much for the government not intervening with a vote."

She added that the government will "have a certain interest in evaluating" the eventual result of the discussions, because it holds 15 percent of Commerzbank. "But that is a small stake."