China's HNA raises Deutsche Bank stake to nearly 10 pct-source

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)