Wells Fargo CEO still downplaying mega merger prospects

Rumors that North Carolina-based Wachovia will merge with California-based Wells Fargo have emerged anew recently, especially as Wachovia inches deeper into California. But Dick Kovacevich, CEO of Wells, continues to downplay the idea to the chagrin of investment bankers. He notes again that any merger would have to offer faster growth than if the two banks remained independent. What is more likely is that both Wells and Wachovia will strike deals with smaller companies.

> Here's an article from the San Francisco Business Times.