April 25, 2019 / 9:11 AM / a year ago

Scholz, on failed Deutsche/Commerzbank talks: German industry needs competitive banks

BERLIN, April 25 (Reuters) - German Finance Minister Olaf Scholz said on Thursday that German industry needed competitive banks for its global business after merger talks between Deutsche Bank and Commerzbank ended in failure.

Scholz said the two banks had discussed closer cooperation, but added: "Such cooperation only makes sense if it pays off in business terms and moves towards a resilient business model."

Reporting by Michelle Martin Editing by Paul Carrel

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