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China News: Hainan Airlines Group Became the Largest Shareholder of Deutsche Bank

China News recently reported that China’s Hainan Airlines Group increased its investment in Deutsche Bank to ten percent, which made the Airlines the largest shareholder of the largest bank in Germany. The earlier largest shareholder was Blackrock (United States), which held 5.88 percent. The additional investment totaled 3.4 billion euro (US$3.71 billion). The Airlines Group has disclosed the information to the U.S. Securities and Exchange Commission (SEC). Deutsche Bank is listed on the German Stock Exchange and the New York Stock Exchange. It has around 100,000 employees. The Bank had suffered financial losses in 2015 and 2016. The Bank’s spokesperson Christian Streckert refused to respond to the question of whether the bank welcomed the fact that a Chinese company had become the largest shareholder. According to Hainan Airlines Group, the Group has become an investor in a large variety of industries and market sectors, with total assets valued over RMB 1 trillion (around US$144 billion). The Group’s 2016 total income was over RMB 600 billion (around US$86 billion).

Source: China News, May 3, 2017