Dresdner and Commerzbank Merge Plans Gaining Momentum

Dresdner and Commerzbank are accelerating their merger plans, aiming to deliver a full-scale merger by the end of July at the latest. The banks are under pressure from both staff and customers to reveal their intentions, with a significant number of question marks surrounding the future of their operations. Dresdner's CEO, Bernd Fahrholz, has confirmed that the banks are working on a tight timetable, with a focus on achieving a 100% merger.

Key Takeaways:

• Dresdner and Commerzbank are accelerating their merger plans, aiming to complete a full-scale merger by the end of July.
• The banks are under pressure from staff and customers to reveal their intentions, with a significant number of question marks surrounding the future of their operations.
• Dresdner's CEO, Bernd Fahrholz, has confirmed that the banks are working on a tight timetable, with a focus on achieving a 100% merger.
• The Rebon investment fund holds a 17% stake in Commerzbank and has been building up its position.
• Allianz, a Munich-based insurer, holds a 21.7% stake in Dresdner Bank and has expressed a preference for a "European approach" to banking mergers.
• Allianz also holds a strategic stake of 17.4% in HypoVereinsbank, Germany's second-largest bank, and a 5% stake in Deutsche Bank.

Statistics:

• 100%: The percentage of merger that Dresdner and Commerzbank are aiming to achieve.
• 21.7%: The percentage stake held by Allianz in Dresdner Bank.
• 17.4%: The percentage stake held by Allianz in HypoVereinsbank.
• 5%: The percentage stake held by Allianz in Deutsche Bank.
• 17%: The percentage stake held by the Rebon investment fund in Commerzbank.

Sources:

• "Dresdner and Commerzbank talks advance fast", Frankfurt banking sources.
• "Dresdner and Commerzbank plans for merger advance fast", Bernd Fahrholz, CEO of Dresdner.
• "French banker plans pan-European banking joint venture", Credit Lyonnais.
• "Allianz general says banks should work together", Le Monde.