The largest German banking merger in years has been given the green light by all parties involved.
German insurance giant Allianz is selling its Dresdner Bank division to its rival Commerzbank for just under 10 billion euros and create what many say will be a second national champion behind Deutsche Bank. 9,000 jobs of a total 67,000 are expected to be slashed after the tie-up. Unions have criticised the deal but investors and Finance Minister Peer Steinbrück have reacted positively. Steinbrück said it would fortify Commerzbank buys ailing Dresdner ...
Commerzbank to buy Dresdner; 9,000 jobs at risk ...
Allianz sells Dresdner Bank to Commerzbank ...
Germany investigates kidnap claims in Georgia ...
Largest Swiss bank to restructure after record losses ...
DW boss voices concern about press freedoms ... Germany's position as a financial centre.
(Deutsche Welle)
more info >>
<< Back