Allianz deal collapses

Germany’s Allianz is considering selling its 21.7% stake in Dresdner Bank following the failure of the proposed merger between Dresdner Bank and Deutsche Bank. The insurer also says that it is hoping to rescue some parts of the deal. Allianz still wants to acquire a major stake in Deutsche Bank 24, the retail banking operation owned by Deutsche. It also still wants to take over Deutscher Herold, Deutsche Bank’s insurance group.