Deutsche Bank Falls on Stock Sale Report
FRANKFURT (
) --
Deutsche Bank
(DB) - Get Report
shares fell 4.4% in Frankfurt Friday after reports surfaced the bank was considering selling stock to raise its stake in
Deutsche Postbank
and meet tougher capital rules.
Deutsche Bank was looking to sell as much as €9 billion ($11.4 billion),
Bloomberg
reported late Thursday, citing three people with knowledge of the talks.
The bank, Germany's largest, has approached securities firms to assess their interest in managing the sale, which may take place as early as next week,
Bloomberg
reports.
Deutsche Bank has the option to increase its roughly 30% stake in Postbank. Meanwhile, the bank could be looking to raise more capital to meet increased requirements for reserves.
The Basel Committee on Banking Supervision is meeting this weekend to discuss new rules that may force lenders to increase reserves,
Bloomberg
notes.
-- Written by Joseph Woelfel
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