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Company News

Deutsche Bank withdraws from bidding for Wirecard bank: source

FILE PHOTO: The logo of Deutsche bank is seen in Hong Kong, China July 8, 2019. REUTERS/Tyrone Siu

FRANKFURT (Reuters) - Deutsche Bank DBKGn.DE has withdrawn from the bidding process for Wirecard Bank WDIG.DE amid concerns over valuaton, a source familiar with the matter said on Friday.

Deutsche Bank and a spokesman for Michael Jaffe, Wirecard’s insolvency administrator, declined to comment.

Reporting by Hans Seidenstuecker, writing by Edward Taylor, editing by Vera Eckert

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