Allianz in 'advanced' talks on Dresdner Bank
The supervisory boards of insurer Allianz SE and Commerzbank AG were meeting separately on Sunday amid mounting speculation about the fate of the Allianz's Dresdner Bank unit.
By Agencies |
FRANKFURT : The supervisory boards of insurer Allianz SE and Commerzbank AG were meeting separately on Sunday amid mounting speculation about the fate of the Allianz's Dresdner Bank unit.
Allianz confirmed that its supervisory board was to meet Sunday, but did not provide any detail on the agenda.
Commerzbank said its supervisory board was to meet later in the day, too.
Allianz reiterated that talks on the future of its Dresdner Bank unit were ``advanced'' but said a deal is not yet certain amid speculation that a sale to rival Commerzbank could soon be sealed.
Allianz shares closed up 0.5 per cent in Frankfurt on Friday at euro114.10 (US$168.13). Commerzbank shares closed down 1.8 per cent at euro20.09 (US$29.60).
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