Not confirmed, but the speculation pushes the price: from the Rise of the Chinese again at the Deutsche Bank? Quite surprisingly, such a step would be.
Deutsche Bank appears to have soon a major shareholder is less. As the Wall Street Journal reported on Friday, citing familiar with the matter people, will repel the Chinese conglomerate HNA in the next few months, his share of the last 7.6 percent at the largest German money house – to pressure the government in Beijing. A spokesman for the Institute, and of the HNA also wanted to make a comment. The “Handelsblatt” quoted an anonymous employee of HNA with the words: “With the sale of the Deutsche Bank share, we prove that we have understood the message.” Currently there is still no specific timetable or a specific buyer for the papers.
Again a bad day for the Deutsche Bank share
The speculation continued on Friday, the share price of Deutsche Bank under pressure. Your rate temporarily fell up to 9,552 Euro and to its lowest level since mid-July. “We do not comment on such market rumors,” said HNA spokesman in the Chinese Haikou to the Reports. Also the Deutsche Bank in Frankfurt declined to comment. New the Provide to HNA are not – after all, the group has accumulated in its global shopping spree in the past few years, a mountain of debt.
Hardly a day without bad news: towers of Deutsche Bank in Frankfurt am Main
The conglomerate has. this year the sell-off of corporate investments, real estate and other assets for more than $ 16 billion, as agreed upon calculations by Reuters showed HNA did not want to speak to the amount of the debt. The majority of HNA, which was due to its opaque ownership structure, repeatedly for criticism, have a New York-based Foundation, and a China-based Foundation, which together hold 52 per cent.
The Chinese government and the creditors of the highly indebted HNA had recently increased the pressure to focus on the old core business, aviation and tourism.
Opaque HNA-structures
HNA was entered at the beginning of 2017 major at Deutsche Bank and was at times just under ten percent of the shares. According to the latest data of the Investor from the far East holds over the Austrian asset Manager C-Quadrat currently 7,64 per cent of Germany’s largest money house. Thus, the conglomerate is the largest shareholder of the Bank prior to the Emirate of Qatar and the US asset Manager Blackrock. With C-square founder Gerd Alexander Schütz also a representative of the Chinese in the Supervisory Board of the Dax group sits. The majority of the shares (6,63%) parked in the HNA at the Swiss Bank UBS and the financial instruments being hedged. In the case of a sale of the shares, therefore, the negative impact on the price of the Deutsche Bank should be limited.
Nevertheless, an exit of the Chinese would make for more unrest in the money house wants to accelerate after three years of losses in a row since April this year, acting chief, Christian Sewing the tag. Structure and financing of the HNA-participation at the Deutsche Bank were from the beginning in the criticism. That HNA did not insure with the help of derivatives exchange losses, brought the Chinese to the charge, to see the Deutsche Bank, only as an object of speculation. In addition, the question of whether HNA not have accepted, given the many Acquisitions and investments in various industries. Warden asked how the especially in the tourism and aviation dedicated group finances and who keeps at it, the threads in the Hand.
hb/zdh (rtr,dpa)