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Deutsche takes hit on Scania block trade

Deutsche Bank has lost Skr63m (€6.8m) on a Skr14.9bn block trade in Scania, the Swedish truck manufacturer, the largest Nordic secondary sale for four years.

Deutsche, which confirmed the loss, approached Volvo, the Swedish car manufacturer, earlier this week to buy the stake and agreed to pay Skr235 a share. One banker at a rival house described the price as "incredibly aggressive".

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