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Axel Weber, chairman of UBS (UBSG.S), a Swiss banking giant, told the newspaper Tages-Anzeiger that there were no plans to seek mergers with other banks. There are rumors that UBS may be married to Deutsche Bank (DBKGn. DE).
"Every company has a lot to think about, but it's meaningless to think about mergers at the group level now. These [mergers] will paralyse the company for years, "he said when asked if he was interested in Deutsche Bank, Germany's largest bank.
"UBS is much stronger today than it was before the financial crisis, but it's too early to merge with other banks, either. We want to grow mainly through endogenous growth, and we have to be able to walk before we want to run.

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