March 12, 2018 / 1:05 PM / 5 months ago

Regulator finds HNA followed disclosure rules on Deutsche Bank stake: source

FRANKFURT (Reuters) - Chinese conglomerate HNA did not breach German stock market disclosure rules when it built its stake in Deutsche Bank (DBKGn.DE), financial watchdog Bafin has found, according to a person close to the matter.

FILE PHOTO: A HNA Group logo is seen on the building of HNA Plaza in Beijing, China February 9, 2018. REUTERS/Jason Lee/File Photo

Bafin declined to comment on the result of its investigation, first reported by daily Sueddeutsche Zeitung, which has now been completed.

HNA also declined to comment.

Bafin started an investigation last year after HNA bought Deutsche Bank shares to become the lender’s largest shareholder.

Since then, HNA Group has sold part of its stake as it offloads investments to address a liquidity crunch.

Reporting by Andreas Framke; writing by Arno Schuetze; editing by Jason Neely

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