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NATION / WORLD: FINANCE

Deutsche Bank in Takeover Talks

October 20, 1998|Associated Press

Deutsche Bank, Germany's largest bank, has opened preliminary takeover talks with Bankers Trust, according to a published report. The possible deal, which would require regulatory approval, would be the largest takeover of a U.S. bank by a non-U.S. bank, the Financial Times said. Bankers Trust, based in New York, is the eighth-largest bank-holding company in the U.S. in terms of assets. The newspaper said unnamed sources close to the talks stress the discussion is in its early stages but that it is the "key element" of the German bank's efforts to acquire a leading U.S. investment bank. An announcement of a deal is seen as being some way off.

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