Deutsche Bank disputed a report yesterday in "Globes" and in foreign media, and said that the bank did not divest a stake in Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT).
Deutsche Bank said it was not true since it did not own any shares on its own behalf.
The report said that two groups which oppose the security fence had claimed "success" when Deutsche Bank CEO Joseph Ackermann said at an annual general meeting (AGM) that the bank had no shares in Elbit. The groups said that a 50,000 share stake had been divested.
According to Deutsche Bank spokesman Ronald Weichert, "Last Thursday Deutsche Bank's CEO Mr. Josef Ackermann said on the AGM that Deutsche Bank neither has a stake in Elbit nor had a stake. When NGOs refered to a NASDAQ-report according to which DB reported 50,000 shares or 0.1 per cent as of March 31, Ackermann made clear that this was not a stake of DB in the company, but that these were trading positions or positions held on behalf of clients. Deutsche Bank had no stake and therefore cannot "divest".
Shares in Elbit Systems rose 1.2% yesterday on the Tel Aviv Stock Exchange (TASE). On the TASE, the share has fallen 17.8% so far in 2010.
Published by Globes [online], Israel business news - www.globes-online.com - on May 31, 2010
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