Deutsche Bank CEO meets with chief of big shareholder HNA

Cornelia Mascio
Novembre 15, 2017

Cerberus Capital Management has taken a 3% stake in Deutsche Bank AG as the US investor ramps up a wager on the German banking industry.

The fund also holds a stake in Germany's Commerzbank AG (CBK.XE) of about 5%.

Line forms here Deutsche Bank has several major foreign investors, including China's HNA Group, its largest shareholder at almost 10%. "I can understand this speculation because Cerberus wouldn't buy into German banks without reason", the trader said.

"This has fuelled the fantasy of a merger between Deutsche Bank and Commerzbank, which came up months ago", said a trader.

Deutsche Bank's chief executive officer John Cryan has met with the chief of its major shareholder China's HNA, The Wall Street Journal reported on Tuesday.

It remains unclear whether the Cerberus and Morgan Stanley disclosures are linked. Instruments include call options, rights of recall over securities lending agreements, equity swaps and put options.

Earlier this year, the German lender disclosed that the Chinese conglomerate had built up a stake of just under 10 percent.

Morgan Stanley in Frankfurt declined to comment.

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