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New round of German bank merger talks

Two of Germany&#39s largest banks have confirmed they are in merger discussions.

Dresdner Bank and Commerzbank, the nation&#39s third and fifth largest banks respectively, are reviving merger talks in what is commonly seen as Germany&#39s overcrowded finance sector.

The move follows the collapse in talks earlier this year between Dresdner and competitor Deutsche Bank.

If successful the new entity would be Germany&#39s second largest private bank, with a market value of £13bn.

Commerzbank chief executive Martin Kohlhaussen has approached his counterpart Bernd Fahrholz. It is believed he has encountered some reluctance because Dresdner wants to time to sort itself out after its failed bid with Deutsche.

The German life office Allianz would likely play a major role in any move, given that it holds a 22 per cent share in each bank.

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