German companies ready to provide capital for Deutsche Bank: Handelsblatt
- Oil rallies over $50 despite OPEC output cut doubts
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- Universal Health (UHS) Disputes and Denies Conclusions in BuzzFeed Article
- Perrigo (PRGO) to Restructure BCH Omega Pharma Belgium Business; Will Terminate EuroGenerics Agreement
Germany's Deutsche Bank headquarters are pictured in Frankfurt, Germany, October 5, 2016. REUTERS/Kai Pfaffenbach
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
BERLIN (Reuters) - The chief executives of several German blue-chip companies have discussed Deutsche Bank's
In a source-based report, the German newspaper said that under an emergency plan the participating companies would purchase Deutsche Bank stock to boost its reserves.
The capital injection that has been discussed is in the low single-digit billions of euros, the paper said, adding that Berlin welcomed the private-sector intervention.
"Market support for Deutsche Bank is in any case better than the use of state money," Handelsblatt quoted a source familiar with the discussions as saying.
Deutsche Bank declined to comment on the report.
The Handelsblatt report did not name any of the companies that have discussed the possibility of supporting Deutsche Bank in this way.
German Finance Minister Wolfgang Schaeuble, who is on a visit to the United States for International Monetary Fund meetings in Washington this week, said earlier in the day that had no comment on whether the German government would be ready to rescue Deutsche Bank.
Deutsche has been engulfed in crisis since news emerged last month of a U.S. demand for a $14 billion settlement over the sale of toxic mortgage bonds. The bank is fighting the fine but could have to turn to investors for more money if it is imposed in full.
(Additional reporting by Arno Schuetze; Writing by Paul Carrel; Editing by David Goodman)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Options with increasing put volume on December 7; ACOR PLAY BWA XSP VA ALR NRG MNK CIEN HRB
- Stocks with Implied Volatility Movement
- Options expected to have Increasing volume: COST HRB LULU SHLD HLT X TLRD GLW UNFI
Create E-mail Alert Related CategoriesReuters, Trader Talk
Related EntitiesDeutsche Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!