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German bank merger talks collapse

Merger talks between German banks Commerzbank and Dresdner Bank have collapsed, ending six weeks of speculation that the two would get into bed together.

Both have a significant presence in the UK, Commerzbank owns Jupiter Asset Management and Dresdner has its investment arm, Dresdner RCM Global.

The news comes as a particularly hard blow to Dresdner, who was involved in merger talks four months ago with Deutsche Bank which also fell through.

Industry analysts say the talks broke down over a failure to come to agreement over the share split of the two banks in a merged entity. Dresdner had been demanding 60 per cent stake while Commerzbank wanted 50 per cent.


Exclusive Connections launches new discount product

Mortgage packaging network Exclusive Connections is launching a new discounted rate product. The product, funded by The Mortgage Business, offers a 1 per cent discounted rate until October, 2001, giving a rate of 6.65 per cent. First time buyers can borrow up to £150,000, while other borrowers can get loans as high as £500,000. The […]

NPI hopes to profit from star rating

NPI says it expects to gain access to national IFAs&#39 pension panels after its with-profits fund was awarded a four-star rating by independent actuaries AKG.The fund previously carried a three-star rating for its future performance potential from the independent actuarial and financial services consultancy. This meant it was not eligible for inclusion on the with-profits […]

Consumer panel chairwoman tells of &#39uneasy&#39 relationship with regulator

The FSA&#39s consumer panel will champion the consumer cause even if it strains its relationship with the FSA, according to panel chairwoman Barbara Saunders.Saunders was speaking at the first FSA AGM last week. Her comments come as it is revealed the consumer panel has recently appointed a spokesman from outside the FSA to speak on […]

DSS making final plans for new pension division

The Department of Social Security is close to finalising theresponsibilities of its new pension division.The division will deal with all matters concerning pensions andpensioners. It will include all aspects of policy development and deliveryof services, including stakeholder plans.It is one of three divisions which will broadly cover pensions,working-age people and children&#39s services. The aim is […]


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