GERMANY: Deutsche Bank sold off Abbey Life on Wednesday for $1.2 billion to UK’s Phoenix Group Holdings in effort to get credibility back even though the latest shares crash has not stemmed investors fears – @AceFinanceNews

#AceFinanceNews – Sept.30: Deutsche gets lift from $1.2 billion sale of Abbey Life to UK’s Phoenix

Deutsche Bank AG has sold its British insurance business Abbey Life to Phoenix Group Holdings as it sheds non-core assets and reduces its balance sheet in an effort to reassure anxious investors and meet regulators’ demands….

But as our report on Thursday confirmed:https://acefinance.wordpress.com/2016/09/16/germany-deutsche-bank-shares-fall-7-after-us-asks-for-14-billion-to-resolve-mortgage-securities-probes-wsjbreakingnews-acefinancenews and they will have a difficult job as shares in Deutsche Bank drop 8% amid concerns clients have pulled billions of dollars from the bank- @WSJbreakingnews – http://bit.ly/2dptmXm and US stocks fall sharply as Deutsche Bank hits all-time low as Dow drops about 195 – CNBC – http://cnb.cx/2dpRJjT

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