January 26, 2019 / 8:08 PM / 10 months ago

Deutsche Bank to get additional investment from Qatar: Bloomberg

The Deutsche Bank app logo is seen on a smartphone in this picture illustration taken September 15, 2017. REUTERS/Dado Ruvic/Illustration

(This January 26 story corrects final sentence to say that QFC distanced itself from a report that Qatar, not QFC, planned to raise its stake.)

FRANKFURT (Reuters) - Deutsche Bank is in advanced talks on receiving an additional investment from Qatar as the bank seeks to improve its finances, Bloomberg reported on Saturday.

Bloomberg, citing unidentified people with knowledge of the matter, said the timing and size of the investment was unclear. The investment would likely come through Qatar Investment Authority, the sovereign wealth fund, the report said.

A spokesman for Deutsche Bank declined to comment. A representative for Qatar Investment Authority wasn’t immediately available for comment.

The Qatari royal family already holds a 6.1 percent stake in Deutsche Bank, according to the bank’s website.

The Qatar Financial Centre (QFC) released a statement in December distancing itself from a newspaper report that said Qatar planned to raise its stake in Deutsche Bank.

Reporting by Tom Sims; Editing by Christoph Steitz and Hugh Lawson

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