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Business

U.S. Banks Eyeing German Banks?

U.S. banks are testing the waters to see if the German government would oppose the takeover of a local bank, the Financial Times reported on Wednesday. Led by U.S. giant Citigroup, a number of American banks are said to have asked Berlin to clarify its position on the matter. "They were all told the government would keep its hands off -- it would not oppose such a bid," one banker told the newspaper. Germany’s leading banks, including Commerzbank, HypoVereinsbank and Dresdner Bank, have all recently tried to clean up their balance sheets, which could clear the way for a merger or takeover. But according to the paper, Citibank would only be interested in Deutsche Bank, the country’s largest financial institution.