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Deutsche Bank Chief in Talks with Stakeholders About Commerzbank Merger

John Pickering

Deutsche Bank AG Chairman Paul Achleitner has spoken with top shareholders as well as investors and key German government officials in recent months about merging with local competitor Commerzbank AG, Bloomberg reported, citing people familiar with the matter. Standing in the way of a deal is Deutsche Bank's depressed share price, with investors telling Achleitner that they don't want a merger at the moment because it would be highly dilutive and potentially trigger a capital increase and large writedowns, Bloomberg reported the people as saying. Deutsche Bank's American depositary receipts rose as much as 2.7 percent and traded 1.9 percent higher at 2:15 p.m. in New York.