Credit Suisse: BlackRock dealmaker joins talks for UBS to buy rival as it seeks $9 billion in guarantees

Deutsche Bank is monitoring the situation at Credit Suisse Group for a potential opening to acquire certain businesses, according to people familiar with the matter.

Discussions have touched on what parts of Credit Suisse would be attractive and what valuation they’d put on desirable assets should they come to market if it’s acquired by UBS Group AG or broken up, the people said, asking not to be identified discussing private information. The German bank’s deliberations so far are internal and it hasn’t made any concrete proposals to the Swiss lender yet, the people said.

Deutsche Bank Chief Executive Officer Christian Sewing has previously said that the firm wants to play a lead role in consolidation — once it eventually happens — after breaking off talks on a potential deal to take over German rival Commerzbank AG.

JPMorgan analysts led by Kian Abouhossein in February put an estimated valuation of 10 billion Swiss francs on Credit Suisse’s wealth management unit and 1.4 billion francs on asset management. Since taking charge five years ago, Deutsche Bank Chief Executive Officer Christian Sewing has held official takeover talks with Commerzbank AG and informal ones with UBS, though all discussions were ultimately broken off without a deal. He’s been a forceful advocate for European banking consolidation and said he’d want to be buyer rather than a target in any potential deal.

Deutsche...lol.

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