PARIS, May 20 (Reuters) - France’s largest asset manager Amundi is exploring a deal to merge its operations with listed Deutsche Bank asset manager DWS but only if it can take control, a source familiar with Amundi’s strategy said.
The idea of merging DWS with a peer has emerged in recent months as Deutsche Bank discussed a possible merger with smaller rival Commerzbank.
Deutsche Bank declined to comment.
“Amundi would not necessarily buy all [of DWS] and would be ready to leave a stake of DWS listed on the stock market, but there is no point in being a minority partner,” the source said.
However, several sources familiar with Deutsche Bank’s plans told Reuters that the German lender is unwilling to sell a controlling stake in DWS.
Additional reporting by Tom Sims; editing by Jason Neely