(Bloomberg) -- Commerzbank AG’s management board will decide on Tuesday to either intensify merger talks with rival Deutsche Bank AG or break off the discussions, according to a report by the weekly Wirtschaftswoche.
The board will discuss how to proceed at a regular meeting set for April 9, the report said, citing supervisory board sources and a meeting agenda.
A spokesman for Commerzbank declined to comment on the report.
Commerzbank and Deutsche Bank announced last month they’re in talks about a potential merger. Deutsche Bank Supervisory Board Chairman Paul Achleitner recently said that the bank will make a public update on where the talks are headed by the lender’s next earnings release, scheduled for April 26.
Commerzbank Chief Executive Officer Martin Zielke recently said in a memo to staff that he wants to reach a decision quickly. The bank’s staff and labor union representatives have been vocal in their strong opposition to the idea of merging the two banks.
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