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China’s HNA Group has increased its stake in Deutsche Bank to 4.76 per cent.

Shareholding information for Deutsche showed that C-Quadrat, the asset manager through which HNA made its original purchase of a 3.04 per stake in Deutsche in February, had increased its stake.

The Chinese conglomerate, which controls airlines, hotels, banks and logistics companies, said upon taking the initial stake last month that it was a passive investor, staving off fears among investors that HNA would seek to take a strategic role in the lender.

HNA in February became the fourth-biggest single investor in Deutsche. Two investment vehicles for members of the Qatari royal family own 6.10 per cent of the bank between them, while US investment group BlackRock owns 6.07 per cent.

Copyright The Financial Times Limited 2017. All rights reserved.

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