U.S. Markets closed

HNA Needs Help. China Inc. Doesn’t Need Deutsche Bank

Nisha Gopalan
HNA Needs Help. China Inc. Doesn’t Need Deutsche Bank

Would Berlin ever approve a Chinese government stake in Germany’s biggest bank? China’s sovereign wealth fund and other large state-controlled investors have expressed interest in buying Deutsche Bank shares held by beleaguered HNA Group Co., the Wall Street Journal reported. CIC and the likes of Citic Group Corp. are looking to relieve the debt-burdened conglomerate of its 7.6 percent stake in the bank as the former regional airline reverses a multibillion-dollar buying binge.