FRANKFURT, Nov 14 (Reuters) - Deutsche Bank denied a report that it was preparing a settlement worth more than 1 billion euros ($1.27 billion) to end a long-running legal dispute with the family of late media mogul Leo Kirch.
“That report is entirely without merit,” a spokesman for Germany’s biggest lender said on Wednesday.
German monthly Manager Magazin earlier reported that Deutsche Bank aimed to lay the dispute to rest by February. The spokesman for Deutsche Bank said there was no internal target by when the matter should be resolved.
Kirch, who died aged 84 last year, had claimed ex-Deutsche Chairman Rolf Breuer triggered his media group’s downfall by questioning its creditworthiness in a 2002 television interview. He sought for years to recoup about 2 billion euros in damages.
Last month, a German judge renewed a push for Deutsche Bank and the Kirch family to reach a settlement.
$1 = 0.7867 euros Reporting by Philipp Halstrick