FRANKFURT, May 2 (Reuters) - Chinese conglomerate HNA Group
has raised its stake in Deutsche Bank to
9.9 percent, a source close to Germany's flagship lender said on
The move would make HNA, which holds the stake via
investment vehicle C-Quadrat, the bank's biggest shareholder
ahead of Qatar, which has close to 10 percent of stock and
options, and BlackRock, which owns 6.1 percent.
HNA last lifted its stake in Deutsche in March to 4.76
percent. A regulatory filing on the increase is expected in the
coming days, two sources close to the bank said.
Deutsche, which is in the midst of an 8 billion euro ($8.74
billion) capital increase, declined to comment. C-Quadrat also
declined to comment. The move was first reported by Bloomberg on
The Chinese group has been on a acquisition spree that has
seen it expand from its traditional business of aviation and
logistics into financial services, betting on asset managers and
consumer finance for growth at home and overseas.
The moves reflect a broader push by China into financial
services globally as Beijing encourages its corporate sector to
expand overseas, although it faces increased regulatory scrutiny
in the United States and Europe.
($1 = 0.9156 euros)
(Reporting by Alexander Huebner, writing by Emma Thomasson.
Editing by Katrin Jones and Jane Merriman)