June 11, 2019 / 1:57 PM / a month ago

Deutsche Bahn's only option to steady debt is asset sales - document

BERLIN, June 11 (Reuters) - Deutsche Bahn must plug a financial hole running into the billions of euros through asset disposals because it cannot expect more state funding nor can it increase borrowing, according to an internal strategy document seen by Reuters.

The only viable option would be the sale or stock market float of British transport unit Arriva, although this would not be big enough to raise the 5 billion euros ($5.7 billion) that Germany’s state-owned railway operator needs to find by 2023.

In addition, a partial sale of logistics arm DB Schenker would be sufficient to stabilise Deutsche Bahn’s debt situation, the document added.

A Deutsche Bahn spokesperson declined to comment. ($1 = 0.8838 euros) (Reporting by Markus Wacket Writing by Douglas Busvine Editing by Michelle Martin)

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