CRZBF - Deutsche Bank Commerzbank shares slide after big investor sells stakes

Deutsche Bank (NYSE:DB) stock is dropping 8.4% and Commerzbank (OTCPK:CRZBF) (OTCPK:CRZBY) is sliding 8.0% in Frankfurt after an unnamed investor sold more than 5% holdings in both of the German lenders, Reuters reported. The undisclosed shareholder who sold the stakes received ~EUR 1.75B euros ($1.9B), based on Reuters' calculations from information provided by bookrunner Morgan Stanley. In response, Deutsche Bank (DB) said in an emailed statement, "We remain confident in our strategy as laid out during our Investor Deep Dive in March. Our focused business model and risk management capabilities have proven their resilience in challenging times." In the past two years, Deutsche Bank's (DB) shares have gained 84% while Commerzbank's (OTCPK:CRZBF) have risen 124% as seen in graph here. Reuters noted that Los Angeles-based Capital Group is one of the few investors that holds that large of stake in both banks. U.S.-based private equity firm Cerberus had also pared  its holdings of Deutsche Bank

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Deutsche Bank, Commerzbank shares slide after big investor sells stakes