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July 06, 2018

Deutsche Bank shares spike on report JPM and ICBC interested in stakes

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Deutsche Bank shares spike on report JPM and ICBC interested in stakes
FILE PHOTO: The headquarters of the Deutsche Bank is pictured in Frankfurt

FRANKFURT (Reuters) - Shares in Germany's troubled Deutsche Bank (DE:DBKGn) jumped by 5 percent on Friday following a report in WirtschaftsWoche magazine that JPMorgan (N:JPM) and Industrial and Commercial Bank of China (SS:601398) may be interested taking a stake.

The business weekly, citing sources in the regional government of North Rhine-Westphalia, also said Chancellor Angela Merkel had met Axel Weber, the former Bundesbank head who is now chairman of Swiss bank UBS (S:UBSG), to sound out his views on Deutsche Bank.

The German government and UBS had no immediate comment. Deutsche Bank declined to comment.

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