German watchdog reportedly investigating Deutsche Bank shareholder HNA

Germany’s financial watchdog Bafin has begun an investigation into the stock market disclosures of Chinese conglomerate HNA Group, the biggest shareholder in Deutsche Bank, a German newspaper said.

Bafin is investigating whether HNA correctly disclosed its Deutsche Bank shareholdings while building a stake earlier this year, Sueddeutsche Zeitung reported according to a pre-release of its Tuesday edition.

Bafin was not immediately available for comment.

HNA said in a statement that its disclosures of Deutsche Bank shareholdings have been and are correct.

HNA has a shareholding in Deutsche Bank of just under 10 percent.

Last month, Switzerland’s Takeover Board said that HNA gave partially untrue or incomplete information during the takeover of Swiss airline catering firm Gategroup last year.

(REUTERS)