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German watchdog investigates Deutsche Bank shareholder HNA: paper
December 4, 2017 / 8:44 PM / 8 days ago

German watchdog investigates Deutsche Bank shareholder HNA: paper

FRANKFURT (Reuters) - Germany’s financial watchdog Bafin has begun an investigation into the stock market disclosures of Chinese conglomerate HNA Group, the biggest shareholder in Deutsche Bank (DBKGn.DE), a German newspaper reported.

FILE PHOTO: The HNA Group logo is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/File Photo

Bafin is investigating whether HNA correctly disclosed its Deutsche Bank shareholdings while building a stake earlier this year, Sueddeutsche Zeitung reported according to a pre-release of its Tuesday edition.

Bafin was not immediately available for comment.

HNA said in a statement that its disclosure of Deutsche Bank shareholdings have been and are correct.

HNA has a shareholding in Deutsche Bank of just under ten percent.

Last month, Switzerland’s Takeover Board said that HNA gave partially untrue or incomplete information during the takeover of Swiss airline catering firm Gategroup last year.

Reporting by Arno Schuetze. Editing by Jane Merriman

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