LAST WEEKEND Christian Sewing replaced John Cryan as Deutsche’s CEO, raising the prospect of radical change at Germany’s flagship lender, which has been slower than rivals to reform after the financial crisis.
LAST WEEKEND Christian Sewing replaced John Cryan as Deutsche’s CEO, raising the prospect of radical change at Germany’s flagship lender, which has been slower than rivals to reform after the financial crisis.

Deutsche ratings change-up

Deutsche Bank’s sudden change in CEO could prolong the lender’s restructuring, ratings agency S&P said as it placed the bank on "credit watch negative" late on Thursday.

S&P said the placing of the bank’s "A-" long-term issuer credit rating on credit watch with negative implications reflects its view that the restructuring could take longer and cost more than current expectations.

Klépierre cans Hammerson plan

Klépierre abandoned plans to bid for Hammerson after the British property company failed to provide "meaningful engagement" after it increased its offer this week, the French shopping centre operator said on Friday.

On Wednesday Hammerson advised shareholders to reject a raised offer of 635p/share, saying it was only a marginal increase on Klépierre’s previous offer of 615p and still undervalued the company.

Klépierre confirmed its executive board chairman Jean-Marc Jestin had met Hammerson counterpart David Tyler on April 9 and made the improved offer.

Reuters

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