Deutsche Bank's (DB) shares soared amid growing speculation that the company will sell its asset management arm, with the group's stock price hitting a one-year high after reports began circulating.
The company is currently thought to be considering either a sale or flotation of the asset management unit, with estimates suggesting an IPO of the unit could fetch around €8 billion ($8.6 billion).
However, it should be noted that reports of the sale are contrary to comments made by Deutsche Bank's CEO John Cryan, who, while at the World Economic Forum in Davos, said, "People forget how big it is and it is a very lovely steady stream of predictable profits and revenues for us, so we like it very much, so we'll keep it."
