Troubled German lending giant Deutsche Bank hopes to complete the proposed partial flotation of its asset management arm before the end of the year, a source told Germany's Handelsblatt newspaper. The bank has set a deadline of 24 months to get the deal through. The sale is part of plans to raise €10bn ($11bn) to pull the bank from financial mire. A spokesman for Deutsche Bank, which was founded in 1866, said it would not comment on speculation.
Troubled German lending giant Deutsche Bank hopes to complete the proposed partial flotation of its asset management arm before the end of the year, a source told Germany's Handelsblatt newspaper. The bank has set a deadline of 24 months to get the deal through. The sale is part of plans to raise €10bn ($11bn) to pull the bank from financial mire. A 20% to 30% stake in the firm could also be sold for up to €2.4bn, according to analysts.