(Reuters) China’s HNA Group has taken a stake of just over 3% in Deutsche Bank and said on Friday it could buy further shares in the German lender. “We have the fullest confidence in Deutsche Bank’s management and will keep a close watch on its future steps and lend support as a shareholder where appropriate,” a spokesman for HNA said. The Chinese aviation and shipping company intends to keep its holding below 10%, he said. HNA’s stake of 3.04%, worth around €750m (US$799m) at current share prices, makes it the bank’s biggest shareholder after Qatar, which has close to 10% of stock via two sovereign wealth funds, and BlackRock, which owns 6.1%. Deutsche Bank said it welcomed in principle any investor with a long-term view.
HNA Group has reportedly taken a stake of just over 3% in Deutsche Bank, and has said that it could buy more shares in the bank in the future. The move sees HNA Group become Deutsche Bank's third largest investor.