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HNA, Qatar not acting in concert at Deutsche Bank: board member in Spiegel
August 4, 2017 / 11:21 AM / in 3 months

HNA, Qatar not acting in concert at Deutsche Bank: board member in Spiegel

FRANKFURT (Reuters) - China’s HNA and Qatar have not acted in concert as shareholders of Deutsche Bank (DBKGn.DE), a board member representing the Chinese conglomerate told Der Spiegel.

FILE PHOTO: A statue is pictured next to the logo of Germany's Deutsche Bank in Frankfurt, Germany, September 30, 2016. REUTERS/Kai Pfaffenbach/File Photo

HNA acquired its stake of just under 10 percent of the German lender earlier this year. Qatar’s royal family has a similarly sized holding.

“The notion that HNA and Qatar acted in concert is total rubbish,” supervisory board member Alexander Schuetz said in the Spiegel interview published Friday.

Europe’s top regulator, the European Central Bank, has been considering carrying out a review of the bank’s two largest shareholders, according to a regulator source.

An investigation, a so-called ownership-control procedure, to scrutinise banks’ shareholders may take place if there is “significant influence over the management of the bank”, the ECB’s website says.

Reporting by Tom Sims; Editing by Christoph Steitz

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