Deutsche Bank AG submitted its planned $10.1 billion purchase of Bankers Trust Corp. for European Union review, a first step toward EU approval of a plan to form the world's biggest financial services company.

The European Commission, the EU's executive agency, has until April 22 to decide whether the purchase would give Germany's biggest bank an excessive share of EU markets. EU regulators can extend their review by up to four more months if they identify serious antitrust concerns.

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