Deutsche Takeover Speculation Looming Large on Money-laundering Scandal

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Deutsche Takeover Speculation Looming Large on Money-laundering Scandal

Although, Deutsche Bank Chief Executive had told a German Newspaper that the bank was not at risk of takeover or merging, spokesman familiar in this regard told that the risks of Deutsche Bank takeover is looming large on its allegation to money laundering scandal, after its share plunged to a record low on Friday.

In the wake of a two-day raid related to the money laundering allegations, over 6 major branches had been searched and tensions are raising among the investors and stake holders. As a spokesman familiar with this matter mentioned that, despite Chief Executive’s wishful thought, the market sentiment is not conceiving any fruit, speculation about a possible merger with the Switzerland’s UBS or German Peer Commerzbank has been continued.

In an attempt to dissipate concerns over possible merging or takeover, the Deutsche Bank, Chief Executive, Christian Sewing spoke to Bild Am Sonntag. He said, “I don’t have any indication of that,” and “We are on track to make our first profit for three years.

It is only a matter of time before this progress is reflected in the share price”. Regarding the alleged aid of Bank’s two executives behind this mammoth money laundering scandal followed by police’s two-day raid, Sewing commented to the newspapers,"But that is okay, I don’t have a problem with that. I want this matter to be cleared up as soon as possible. ”