About 83pc of Commerzbank employees who took part in a staff survey are against a merger with Deutsche Bank, according to preliminary results of the poll seen by Reuters yesterday.
Germany’s two largest banks announced in March that they were in talks to merge, a tie-up that unions have said could result in the loss of 30,000 jobs.
Opposition to the proposed deal is stronger at Commerzbank than Deutsche Bank, where a similar survey showed nearly 70pc did not favour a tie-up. “Distance yourselves from the merger plans,” Commerzbank’s works council wrote in an open email to the bank’s management board with the results of the survey, taken during the fifth week of merger talks.
Employees’ opinions count in Germany because workers make up half of companies’ supervisory boards that usually are required to sign off on mergers.
Full Content: Independent
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Extends Support for Farms and Fisheries Amid Market Disruptions
May 5, 2024 by
CPI
Sony and Apollo Bid $26 Billion for Paramount Acquisition
May 5, 2024 by
CPI
Goldman Sachs Resolves Decade-Old Metal-Rigging Class Action Lawsuit
May 5, 2024 by
CPI
Italian Antitrust Ruling Puts Halt on Intesa Sanpaolo’s Fintech Ambitions
May 5, 2024 by
CPI
Google Antitrust Case: Closing Arguments Conclude
May 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI