Deutsche Bank Drops Plans To Invest In Bundesliga Side Borussia Dortmund
Financial institute Deutsche Bank "has pulled out of negotiations with Bundesliga side Borussia Dortmund to acquire a 10% stake in the club," according to FOCUS ONLINE. Media reports about a possible investment of the bank "helped the club's publicly traded shares to reach a 12-year high last week." However, news of the bank's decision to drop the deal "had a reverse effect on the stock price." Despite the news, the club "will continue to look for a financial partner." The club said, "To secure a sustainable growth, the club will continue to hold exploratory talks with several interested companies." A Deutsche bank spokesperson said, "After a lengthy evaluation process, Deutsche Bank's board of directors unanimously decided today to not invest in Bundesliga club Borussia Dortmund at the moment." Reports suggested that the club "was asking for a sum way above its current market value." On Friday, Dortmund's shares "rose" by around 12% to almost €4.67 a share. After the news broke on Monday, the shares fell by 8.1% (FOCUS ONLINE, 6/9).