FRANKFURT Feb 20 Deutsche Bank on
Thursday said it had reached a settlement with the heirs of late
media mogul Leo Kirch, ending an acrimonious legal battle that
has dogged German's largest bank for more than a decade.
The deal concludes all legal disputes between the two
parties resulting in a payment of 775 million euros plus
interest and a lump-sum reimbursement of costs, Deutsche Bank
Deutsche Bank said it will take a charge in the fourth
quarter 2013. The settlement will result in a decrease of the
results of approximately 350 million euros after tax, Deutsche
Kirch, who died in 2011, had claimed that ex-Deutsche chief
executive and later Chairman Rolf Breuer triggered his media
group's downfall by questioning its creditworthiness in a 2002
television interview. Kirch sought for years to recoup about 2
billion euros ($2.7 billion) in damages.