Deutsche Bank shares sank on Thursday after the Financial Times reported that the troubled German lender had been discussing tapping equity markets to raise as much as €10 billion ($11.2 billion) in what would be the bank’s fifth return to the equity well in under a decade. At the higher end of the range, the raise – which would help facilitated a “merger of weakquals” with fellow struggling German lender Commerzbank – would be equivalent to roughly two-thirds of Deutsche’s €16 billion market cap, and about 40% of the combined market value of Deutsche and Commerzbank.
Deutsche’s shares plunged toward the $7 mark, nearing fresh all-time lows.
Developing…
via ZeroHedge News https://ift.tt/2UZZzXX Tyler Durden