DThe traditional Hamburg private bank MM Warburg has been in talks for months about the possible entry of an external investor. This is reported by WELT AM SONNTAG, citing financial circles.
Several possible interested parties are said to have already been addressed. In the coming weeks, the talks could become more concrete, according to financial circles.
Above all, the bank wants to use the fresh capital to push ahead with its current restructuring program. MM Warburg declined to comment on the information when asked.
So far, more than 80 percent of MM Warburg has been owned by the bankers Max Warburg and Christian Olearius. In the past, the two owners had always ruled out selling the institute.
On Wednesday, the district court in Bonn approved charges against Christian Olearius on suspicion of tax evasion through so-called cum-ex deals.
MM Warburg did not comment on whether this procedure would have consequences for his participation in the bank. The financial regulator BaFin did not comment on this either.
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