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Political decision on Deutsche-Commerzbank merger should be made by May: magazine

Reuters  |  BERLIN 

(Reuters) - and will decide on a potential merger between and before the next elections in May, magazine reported on Friday, citing an unnamed source.

"If there will be no decision by then, the subject will be over," the source told the German magazine, adding that after the European elections, politicians in and would be tied up with internal processes, hindering decision making.

said and the EU needed to coordinate on the matter because a potential merger could entail action by the German state which could be seen as state aid.

In an interview with published on Friday, German Minster reiterated that needed a to accompany German companies on global markets.

"We . . . need German banks that can develop the ability, competence and strength to accompany globally active German companies on global markets," the paper quoted him as saying.

(Reporting by Tassilo Hummel; editing by Darren Schuettler)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 08 2019. 12:35 IST