Deutsche/Bankers Deal Set To Create FX Colossus
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NEW YORK--The potential link up between Deutsche Bank and Bankers Trust could create an FX "colossus" to rival Citibank or UBS, say market officials. However, the deal, if approved, is likely to result in a number of FX redundancies, given the level of overlap between the banks, they add.
The proposed $9.7 billion deal was confirmed last week when the two banks published a joint statement regarding negotiations. However, the link up is still pending both regulatory and shareholder approval.
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