Friede Springer, the largest shareholder in the German publisher Axel Springer Verlag has consolidated her hold on the company by acquiring a 10.4% stake from Deutsche Bank.
The bank yesterday took control of the 40% stake in Axel Springer previously owned by the indebted Kirch Media Group (see Deutsche Bank Temporarily Takes 40% Axel Springer Stake). This latest development means that Deutsche Bank’s stake falls below 30% and it can sell its remaining shares without having to fulfil the mandatory requirement to mount a full takeover bid.
Friede Springer now has a 55.4% share in the company which was set up by her late husband in 1946. Major interests include the daily newspapers Bild and Die Welt.
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