German Chancellor Olaf Scholz said he would not represent the Social Democratic Party of Germany in coalition talks with the Christian Democratic Union, which won the election, according to Bild and tagesschau.

The CEO of German chemicals group BASF, which is undergoing a massive restructuring programme to cut costs as Germany's economic falters, joined those calling for a quick agreemen

Senior figures from Germany's conservatives and the Social Democrats will begin exploratory talks on forming a coalition government on Friday, sources at the parties told Reuters. Friedrich Merz, leader of the conservative bloc which came first in Sunday's election,

Germany's conservatives led by election winner Friedrich Merz held first talks Friday with the Social Democrats on forming a coalition government as the country faces multiple challenges at home and abroad.