BERLIN (Reuters) - Two powerful German business associations said on Friday they were not in favour of a possible merger between Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG), arguing that such a deal could harm competition.
"More competition is fundamentally welcome," Reinhold von Eben-Worlee, head of the Family Businesses Association, told Reuters. "Therefore, we see no reason why the two banks should merge."
Mario Ohoven, president of the German Association for Small and Medium-sized Enterprises (DMB), made similar remarks when asked about a possible merger.
"When two troubled banks come together there is no guarantee this will result in an economically powerful institution," Ohoven told Reuters. "Put bluntly: putting two limping entities together doesn't result in a European Champion."