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Deutsche Bank Shares Jump After Report Qatar Sovereign Wealth Fund May Up Stake

Martin Baccardax

shares were marked higher in Frankfurt Monday following a weekend report that suggested Qatar's multi-billion sovereign wealth fund was preparing to increase its stake in Germany's biggest lender. Bloomberg reported Saturday that the Qatar Investment Authority was in "advanced" talks with Deutsche Bank to boosted its current holding, estimated at around 6.1%, while noting that the timing of such an increase was uncertain. Last year, the QIA said it would invest around $10 billion of its $320 fund in German, while the fund's chairman, Sheikh Mohammed bin Abdulrahman Al Thani, hinted last week at the World Economic Forum in Davos that financial services firms could be potential targets.