Reuters: Financial Services and Real Estate: PwC in Germany, Netherlands to merge - magazine

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PwC in Germany, Netherlands to merge - magazine May 5th 2012, 10:54 By Maria Sheahan FRANKFURT | Sat May 5, 2012 6:54am EDT FRANKFURT May 5 (Reuters) - The German and Dutch members of the PricewaterhouseCoopers network of consulting and auditing firms plan to merge to compete for auditing contracts with KPMG, Ernst & Young and Deloitte, the head of PwC Germany told WirtschaftsWoche magazine. "The global PwC network comprises independent companies, but we want to grow into one global firm," Norbert Winkeljohann said, according to an excerpt of an interview to be published in the magazine's Monday edition. He said the Dutch PwC business will become part of a holding company currently bundling the firms in Germany and Austria. PwC Germany has 8,800 employees and generated revenue of 1.4 billion euros ($1.84 billion) last year, according to the magazine. The Dutch PwC has about 4,600 employees, it said.

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