US, China Giants Want Stakes in Deutsche Bank


JPMorgan and the Industrial and Commercial Bank of China (ICBC) are looking to buy stakes in the ailing Deutsche Bank, German magazine Witschafts Woche reported Friday.

The publication said with a reference to anonymous sources in a German regional government that competitors became interested in Deutsche Bank after a recent sharp drop in the bank’s capitalization.
Since the beginning of the year, the long-troubled bank’s capitalization dived 37.5% and is below 20 billion euro now.

The capitalization of JPMorgan exceeds $ 350 billion (almost € 300 billion), and ICBC – 1.8 trillion yuan (about € 280 billion), Witschafts Woche said.

JPMorgan later in the day denied plans to take a stake in Deutsche Bank/ On the news, Deutsche Bank shares jumped as much as 5% on Friday morning.

Leave a Reply

Your email address will not be published. Required fields are marked *