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. Last Updated: 07/27/2016

Bank Merger Denied

FRANKFURT, Germany -- Germany's HypoVereinsbank AG said Wednesday it had no plans to merge with Dresdner Bank AG.

"There are no plans," HypoVereinsbank spokesman Thomas Pfaff said, referring to fresh speculation that the two banks were planning a tie-up.

Earlier Wednesday Dresdner declined to comment on whether it was planning to merge with HypoVereinsbank, but denied speculation that it had ordered its traders not to trade in its own shares.

HypoVereinsbank's Pfaff also denied the share trade speculation.

Stock prices in both groups surged on the rumors.