Deutsche Bank has defied the summer lull by selling Deutsche Telekom shares worth €1bn ($876m) through an accelerated bookbuild.
The German bank sold stock in the German telecoms incumbent to a market that has become increasingly bearish on the sector. But a banker close to the deal said the issue was warmly received. She said: "There was quite good take-up this morning. Investors know this story and they either want some more or they don't."
