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Deutsche Bank Makes Bid for Some Wirecard Assets

  • All non-binding bids received fell short of minimum threshold
  • Administrator must decide between asset sales or liquidations
Bloomberg business news
How Wirecard Went From DAX Darling to Political Headache

Deutsche Bank AG has submitted a bid for some of Wirecard AG’s German assets, but the administrator of the insolvent payments company considers it too low, people familiar with the matter said.

The offer from Germany’s largest lender for Wirecard Bank and some related companies was one of several, the people said. All the non-binding bids were well below 100 million euros ($119 million), which Wirecard administrator Michael Jaffe sees as a minimum to proceed with a sale rather than a liquidation.