Deutsche
Bank reportedly wants to buy Russian investment bank United Financial
Group.
A Russian financial newspaper had reported the German interest
on Monday. UFG officials have told the newspaper that the German
banking giant plans to increase its shares from 40 percent to 100
percent. Deutsche Bank is willing to pay as much as $420 million
for the investment, the Russian newspaper said.
A Deutsche Bank spokesperson refused to comment on the article,
but said that his group has an option to increase its stake in the
Russian bank, the German daily Sueddeutsche Zeitung reported Tuesday.
Financial experts told the newspaper that the rest of the UFG shares
are not worth more than $200 million.
U.S. investor Charles Ryan in 1994 founded UFG, which is now one
of Russia's leading independent investment banks.
Deutsche Bank does well to invest in the fast-growing Russian market,
experts said.
(UPI) |
