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Executives of Deutsche Bank and Commerzbank are increasingly open to the idea of a merger, German magazine Der Spiegel reported on Tuesday.
It cited one person as saying that Commerzbank Chief Executive Martin Zielke "would rather do it today than tomorrow," but that Deutsche Bank CEO Christian Sewing had said internally a merger was not on the agenda in the next 18 months.
It said that German Finance Minister Olaf Scholz could also imagine a deal to combine Germany's two biggest lenders. "We do not comment on banks' strategic decisions," a spokeswoman for the German Finance Ministry said.
Deutsche Bank and Commerzbank both declined to comment.