Deutsche Bank strengthens with 10 billion euros


Deutsche Bank, one of three largest banks in Germany, is preparing for a capital increase of at least 9.8 billion euros to meet new regulations imposed by Basel III, the largest such operation this year in Europe.

Financial institution announced it has launched a full takeover offer rival Deutsche Postbank, which already holds a stake of 30%.

Acquisition will generate a devaluation of 2.4 billion euros of initial investment.

Capital decision is included in director Josef Ackermann plan to extend the presence of local retail bank market.

Deutsche Bank has announced it will offer shareholders the opportunity to buy one new share for every two held. The price of a new title will be 31.8 euros, agreed with unions, below the 47.7 euros at which the stock closed Friday.

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Posted by R.Magnusson on Sep 13 2010. Filed under Business, Featured News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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