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Prior to Thursday's board meeting, a person who had direct knowledge of the ideas of Christian Sewing, chief executive of Deutsche Bank, revealed that Zewin believed there was a good reason to merge with rival CBKG.DE and that it looked like he would have to fight against unions fearing massive layoffs.
According to the person, Zewen sees many benefits of the merger, including "obvious" dominance in the domestic market, economies of scale, and cost-sharing of technology.
The person also pointed out that Zewen believed that the merger would reduce financing costs and "have the best financing conditions in history" and that the company would lay off staff regardless of the merger or not.
A spokesman for Deutsche Bank declined to comment.


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