The biggest German bank Deutsche Bank AG expects losses in connection with the planned absorption of Deutsche Postbank AG, the Associated Press reported citing an official statement of the credit institution.
Deutsche Bank shares lost dramatically in value (about 4.5%) against the declaration of the deal, as published on the official website of the company, and stood at 44.75 euros at the close of stock market session on 21 September on the ground in Frankfurt.
Currently, Deutsche Bank AG owns just under 30% of assets Postbank. Application for full absorption was formalized on 12 September and supported the intention to issue additional shares in order to attract 10.2 billion euros. The credit institution plans to sell 308.6 million new shares at the price of 33 euros apiece.
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