CDB/Dresdner: Doomed to repeat it

Dresdner Bank’s tortured acquisition history doesn’t seem to be deterring starry-eyed suitors. The latest would-be saviour of the ailing German institution is reported to be China Development Bank, the Beijing-based public works lender. Like many of its in-country peers, CDB is keen to put heaps of cash to work in Western financials to gain much-needed banking expertise. But such a quest for knowledge can be an expensive path to nowhere. Dresdner itself followed German peers to London in search...