Amundi SA said it would consider a merger with Deutsche Bank AG's DWS Group GmbH & Co. KGaA only if it can take control, Reuters reported, citing a source familiar with Amundi's strategy.

According to the source, Amundi does not intend to be a minority partner in DWS — it plans to buy a controlling stake, and would be willing to leave a smaller stake listed on the stock market.

However, sources familiar with Deutsche Bank's plans said the lender is unlikely to part with a controlling stake in DWS, the newswire added.

Amundi began merger discussions with DWS in April, along with German insurer Allianz Group, Paris-based Axa and Swiss asset manager UBS Group AG. Discussions between Deutsche Bank and UBS recently fizzled out, due to a disagreement on who would have control over the combined entity.