(June 19 – 15:10 ET) – The boards of Commerzbank AG and Dresdner Bank AG confirm that they are in discussions about a range of possible business combinations. The discussions are at a very early stage. The companies confirmed the talks in a joint press release posted on each bank’s Web site.

No further statement is to be expected in the short term.

The announcement follows media speculation about a merger that, if realized, would create Germany’s second-largest bank, with assets of about US$750 billion.
-IE Staff