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Report: Deutsche Bank decides against selling Spanish retail operations

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Report: Deutsche Bank decides against selling Spanish retail operations

Deutsche Bank AG has canceled its plans to sell its Spanish operations after bids for the unit failed to meet its expectations, Expansión reported on Oct. 16.

Deutsche Bank, which has been seeking to off-load nonstrategic assets, had received bids from Targobank S.A.U., Banco Bilbao Vizcaya Argentaria SA and ABANCA Corporación Bancaria SA, but only Abanca had stayed in the running with a bid of between €400 million and €500 million, the report said.

Expansión cited sources saying the bank had informed the staff that the sale plan had been abandoned.