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Financials

Amundi eyeing DWS deal but only if it can take control -source

PARIS, May 20 (Reuters) - France’s largest asset manager Amundi is exploring a deal to merge its operations with listed Deutsche Bank asset manager DWS but only if it can take control, a source familiar with Amundi’s strategy said.

The idea of merging DWS with a peer has emerged in recent months as Deutsche Bank discussed a possible merger with smaller rival Commerzbank.

Deutsche Bank declined to comment.

“Amundi would not necessarily buy all [of DWS] and would be ready to leave a stake of DWS listed on the stock market, but there is no point in being a minority partner,” the source said.

However, several sources familiar with Deutsche Bank’s plans told Reuters that the German lender is unwilling to sell a controlling stake in DWS.

Additional reporting by Tom Sims; editing by Jason Neely

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