GERMANY: Deutsche Bank may cut DC stake
Deutsche Bank AG, Europe's biggest bank and the largest shareholder in DaimlerChrysler, may cut its 12% stake this year to boost earnings after 2001 profit fell, according to a Reuters report.
The report quotes Deutsche Bank's Chief Executive Officer Rolf Breuer as saying that 'it's a matter of price.'
Last year, Deutsche Bank suspended plans to reduce its DC stake in the aftermath of the share price fall that followed September 11.
Deutsche Bank has watched with alarm as the DC share price has halved in value since the merger of Daimler Benz and Chrysler in 1998.