Cerberus’ German bank sale likely just the beginning – sources

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Reuters UK

By Tom Sims and Frank Siebelt FRANKFURT (Reuters) -Cerberus’ sale this week of part of its sizeable holdings in Deutsche Bank and Commerzbank is likely the first step to a full exit from the lenders by the U.S. investor, said two people with knowledge of the matter. For years, profits in the financial industry of Europe’s largest economy have been under pressure, as banks face stiff competition, high expenses, and ongoing low interest rates. But Cerberus in 2017 bet big on Germany by buying a 3% stake in Deutsche Bank and a 5% stake in Commerzbank, a move that the two people said was meant in …

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