German largest Deutsche Bank AG plans to merge with another giant of Commerzbank, the chairman of the board of the bank negotiates with shareholders and investors, Bloomberg reports referring to its sources.

Deutsche Bank CEO Paul Akhlyaytner is negotiating with his shareholders on merging with its competitor Commerzbank, in order to carry out financial recovery, the agency said.

Akhlyaytner has also discussed the issue of merging with the country's major investors and officials in recent months.

Meanwhile, the agency notes that no official discussions between the banks have taken place yet.

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