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Qatar mulls raising stake in Deutsche Bank to 25 percent: Spiegel
October 7, 2016 / 5:00 PM / a year ago

Qatar mulls raising stake in Deutsche Bank to 25 percent: Spiegel

FRANKFURT (Reuters) - Qatari and allied investors are considering bolstering Deutsche Bank with fresh capital by taking a stake of 25 percent in Germany’s biggest lender, Der Spiegel magazine reported on Friday.

Der Spiegel, without citing sources, said Qatar’s former Prime Minister Sheikh Hamad bin Jassim al-Thani (HBJ) and Sheikh Hamad bin Khalifa Al-Thani were weighing the move with the backing of sovereign wealth funds willing to become long-term investors.

Earlier, sources familiar with Qatari investment policy told Reuters the Qatari investors - who currently own just under 10 percent of Deutsche Bank - do not plan to sell their shares and could consider buying more if the embattled German bank decides to raise capital.

But two sources familiar with the situation said it was unlikely that they would acquire a stake as big as 25 percent.

The German bank’s U.S.-listed shares jumped 3.1 percent on the Spiegel report but retreated from session highs following the Reuters sources report and traded 1.1 percent higher by 1648 GMT (1248 EDT).

Deutsche Bank declined comment. Sheikh Hamad was not immediately available for comment.

Funds controlled by HBJ bought 6.1 percent of Deutsche in mid-2014 and increased their stake to just under 10 percent, including options, in July this year.

Reporting by Jonathan Gould; Editing by Georgina Prodhan

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