Deutsche Bank sells stake in Borussia Dortmund

Discussion in 'Germany' started by jonam, Oct 16, 2003.

  1. jonam

    jonam Member

    Aug 27, 2003
    Deutsche Bank sells stake in Borussia Dortmund

    FRANKFURT, Oct 16 (Reuters) - Germany's Deutsche Bank said on Thursday it had sold its 14 percent stake in the country's only listed club, Borussia Dortmund, to German publisher Norman Rentrop.

    "This transaction is a further step in implementing Deutsche Bank's stated policy of selling its still existing stakes in listed companies," the bank said in a statement.

    It did not give financial details. Shares in Borussia closed at 3.37 euros on Wednesday.

  2. The Double

    The Double Moderator
    Staff Member

    Nov 11, 2002
    I don't know what to make of this. Maybe jona can give us his German perspective? What do you think of this?
  3. jonam

    jonam Member

    Aug 27, 2003
    Deutsche Bank was BVB's partner when they went public in 2000 and bought 20% of Borussia's stakes. Since more than one year Deutsche Bank's new strategy is to sell its stakes in other company as long as they are not directly connected to their main business (banking).

    As they didn't found an investor to buy the complete 20%, they sold shares on the stock market every time the price rose. Means that the share had no chance to rose above a certain level as Deutsche Bank kept selling. The shareholders and the investors knew that.

    Now an investor has bought the remaining 14,4% from Deutsche Bank and made a statement that he sees BVB as a long-time investment. That was kind of relieve for the share price and yesterday it rose by nearly 10%.
  4. soccerfreak #1

    soccerfreak #1 New Member

    Oct 6, 2003
    I just looked up who this Norman Rentrop is, and found out that he is a publisher for Economical Books and what is very interesting, the man who started Bible TV in germany!

    So what does he want with BVB stakes?????????

    Maybe that means that the Westfalenstadion will be used as a church in the future........

    Maybe he wants to give Dotmund some kind of TV presence with a priest doing the interviews......
  5. Romario'sgurl

    Romario'sgurl Member+

    Wakanda FC
    Aug 26, 2000
    FC Ingolstadt 04
    Nat'l Team:
    Well, it is called the Football Temple, isn't it? :)

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