Qatar mulls increasing Deutsche Bank stake
QATARI investors, including members of the royal family, are considering raising their stake in Deutsche Bank to 25 percent to shore up the embattled lender’s capital position.
Qatari ex-premier Sheikh Hamad bin Jassim bin Jabor al-Thani and his cousin, the former emir Hamad Bin Khalifa Al-Thani, currently own 10pc of the German bank’s shares, the weekly Der Spiegel reported.
Deutsche Bank has been in crisis mode since a US demand last month for a US$14 billion fine for selling toxic mortgage bonds sparked fears over the lender’s financial health, sending its share price plummeting to a record low.
If the Qatari group does indeed raise its stake in Deutsche to 25pc, the investors would likely expect to have a say in management issues.
Without citing its sources, Der Spiegel said the Qatari royals were “increasingly unhappy” with the current management under CEO John Cryan.
‘If the Qataris were to raise their stake they would probably also push for changes to the management.’
Der Spiegel German Magazine
“If the Qataris were to raise their stake they would probably also push for changes to the management,” the magazine added.
The German finance ministry told Spiegel it would have no objections to a greater investment by the Qatari group. –