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.