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Germany Breaking News: Praktiker Shareholder Mulls Taking Over Bank Loans

Wochit 1:18 mins

Isabella de Krassny, a leading shareholder of insolvent German home improvement retailer Praktiker is considering buying out banks in a move to save the company. de Krassny said, "An insolvency is not the end. Together with other investors we are considering buying the loans held by banks." She and her husband Alain de Krassny together own about 15 percent of Germany's No. 3 DIY chain, according to Thomson Reuters data. Germany and France were split over European Union plans for a new agency to wind down troubled banks, with Berlin saying they go too far in centralizing control in Brussels. The body would form part of a banking union designed to underpin confidence in the euro zone and end the previously chaotic handling of cross-border bank collapses. But German Finance Minister Wolfgang Schaeuble said in a letter to the EU official in charge of the plans that the European Commission is trying to pocket too much power China's CCTV Documentary package deal with ZDF Enterprises includes the hit six-part WWII series "Last Secrets of the Third Reich."

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