FRANKFURT -- Deutsche Bank's 10.4 percent stake in DaimlerChrysler remains unchanged despite an internal securities-lending transaction at the bank, the companies said on Friday.
In a legal notice published on Friday, DaimlerChrysler said Deutsche unit DB Value GmbH's voting stake in the group had fallen below the 10-percent reporting threshold on June 8 and now stood at 6.45 percent.
But Deutsche had also said it that the drop resulted from internal securities lending. "The overall voting stake of the Deutsche Bank group has not changed in a way that would require disclosure," it said.
Spokespeople for DaimlerChrysler and Deutsche Bank confirmed that Deutsche's overall stake had not changed.
DaimlerChrysler had reported an identical transaction in January.
Deutsche Bank Chairman Rolf Breuer told reporters in February that the bank would keep its stake in DaimlerChrysler for the time being, citing the tax burden any sale would incur.
Deutsche Bank reduced its stake last year to 10.4 percent from 11.5 percent, but the transaction had scant impact on after-tax earnings because the book gain was absorbed by taxes.