Deutsche Bank CEO wants more time to assess Commerzbank merger: Die Welt

FILE PHOTO: Christian Sewing, CEO of Deutsche Bank AG, addresses the media during the bank's annual news conference in Frankfurt, Germany, February 1, 2019. REUTERS/Kai Pfaffenbach/File Photo

FRANKFURT (Reuters) - Deutsche Bank Chief Executive Christian Sewing has told his counterpart at Commerzbank that he wants more time to consider a merger, a German newspaper reported on Wednesday.

Die Welt, without citing any sources, reported that Sewing delivered the message in a meeting with Commerzbank CEO Martin Zielke on Tuesday evening. Deutsche’s management board met earlier on Tuesday.

The banks, which had announced they were in preliminary talks about a merger on March 17, declined to comment.

Sewing would prefer to make a decision on the merger after Easter, which is on April 21, while Zielke would prefer a decision before then, Die Welt reported.

Reuters reported last week that the two banks were divided over the pace of their merger, with Commerzbank wanting a speedy decision and Deutsche wanting more time.

Reporting by Tom Sims and Hans Seidenstuecker; Editing by Ludwig Burger and Susan Fenton