ING: end of merger talks with Commerzbank?
(CercleFinance.com) - The ING share is up 1.
5% in Amsterdam today after news that its merger project with ING has been abandoned.
Meanwhile, the Commerzbank share is also up around 1.6% in Frankfurt.
ING's management no longer appears to be interested in a merger with Commerzbank, the German daily Handelsblatt reports. The group appears to have decided not to continue talks after several meetings between the two groups' directors.
Ralph Hamers, CEO at ING said at the start of June that cross-border mergers currently present a "limited" interest, Aurel BGC analysts said this morning.
At present, ING and Commerzbank have respective market capitalisations of 38.2 billion and 7.9 billion euros. These may be compared with France's Société Générale (18 billion euros), Crédit agricole SA (29 billion euros) and BNP Paribas (51 billion euros).
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