-- Talks over a joint venture in China between Deutsche Bank, its asset manager DWS and Postal Savings Bank of China have ended over disagreements over the control of the entity, Reuters reports, citing unnamed sources.
-- The latest plan was for Deutsche Bank and PSBC to own 47.5% of the joint venture each, with the remaining 5% owned by U.S. investment firm Ares Management, though China's authorities wanted the German lender to take a majority stake, Reuters reports.
-- Deutsche Bank and Ares declined to comment to Reuters. PSBC did not respond to a request for comment.
Full story: https://tinyurl.com/33up66zx
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
January 28, 2025 09:27 ET (14:27 GMT)
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