Qatar is considering increasing its stake in Deutsche Bank AG, Handelsblatt reported, citing an interview with Yousef Mohammed Al-Jaida, chief executive officer of state-owned Qatar Financial Centre.
“We will invest in a large financial institution in Germany,” Al-Jaida said, according to the German business daily. “This was discussed on the sidelines of the Doha Forum and will be announced shortly.”
Though he declined to name the company, Al-Jaida said it’s a lender in which Qatar already owns a stake. That and the fact that Deutsche Bank CEO Christian Sewing was the only German top manager to participate in the Doha Forum clearly points to Deutsche Bank, Handelsblatt said. Qatar on Monday pushed back, saying the comments were of a general nature.
“The claims about Qatar’s intention or hints to invest further in the said institution are solely based on unsupported assumptions rather than facts or a direct statement,” Sarah Al-Dorani, a spokeswoman for Qatar Financial Center, wrote in an emailed response to Bloomberg.
The German government has been moving to help fix Deutsche Bank by studying ways to make it easier to merge with Commerzbank AG, Bloomberg reported last week. Talks about a merger are in an exploratory phase and other possibilities such as seeking fresh investment from existing or new shareholders are also still being considered.
The Qataris started building up their stake in 2015 and have reported owning more than 6 percent between two investment vehicles.
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