From Tyler Durden: Shares of embattled German bank Deutsche Bank AG (NYSE:DB) spiked today following a Manager Magazin report claiming that the Qatar and Abu Dhabi Sovereign Wealth Fund — and Chinese investors — might be willing to raise their stake in DB to 25%.
This is hardly new, and has been regurgitated in some capacity over the past month, however it was sufficient to move the stock some 4% higher.
The German outlet also reports that the biggest European lender is increasingly confident of paying a fine significantly below $14 billion, thereby avoiding a new for a capital increase.
What is interesting is that according to Manager, the Qatar and Abu Dhabi investors are being advised by the infamous Michele Faissola who recently was charged for market manipulation by Italy in relation to DB’s transactions with Monte Paschi and who may have had a role in some of the recent prominent banker suicides as we reported last week.
The full report is available here (in German), but the jist is that several Arab investors are earger to boost their stakes and thereby gain sizable influence within Deutsche Bank. These investors reportedly include Hamad bin Yassim bin Jabor Al-Thani (57) and his cousin Hamad Bin Khalifa Al-Thani (64), both of Qatar, along with several prominent Chinese investors as well.
Deutsche Bank shares rose $0.57 (+4.11%) to $14.43 in Thursday afternoon trading. Year-to-date, DB has fallen 40%.
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