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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.

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