Deutsche's big gamble
Article Abstract:
Deutsche Bank is to merge with Dresdner Bank and the new bank aims to succeed in investment banking. The new bank will move away from retail banking despite uncertainties relating to the wholesale strategy of Deutsche Bank. Dresdner and Deutsche combined account for 12% of German retail banking and face pressure from savings and mutual banks that do not have to achieve market rates of return. Bank 24 will become an independent company, and Allianz will exchange stakes in Dresdner and Deutche Bank for a stake of 49% in Bank 24.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 2000
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Death of a deal
Article Abstract:
A planned merger between Dresdner Bank and Deutsche Bank has collapsed after it was called off by Dresdner Bank, and this is linked to problems in merging the two banks' investment bank operations. There had been a plan to merge the investment bank of Deutsche bank with Dresdner Kleinwort Benson (DKB), and Dresdner would have suffered a revolt if the breaking up of DKB had been agreed. Some key Deutsche Bank staff were also opposed to the planned merger.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 2000
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Dresdner approval is expected in sale of unit's divisions
Article Abstract:
Dresdner Kleinwort Benson's equities and fixed-income divisions were announced as available for sale by Dresdner Bank AG and Deutsche Bank AG. Several financial institutions have already expressed interest to acquire the investment bank's assets.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2000
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