Deutsche Bank Said to Pull Out of Wirecard Bank Sale Over Price

Deutsche Bank AG has dropped its pursuit of Wirecard AG’s banking unit and related assets after balking at the price sought by the payments company’s insolvency administrator, according to a person familiar with the matter.

Wirecard’s insolvency administrator, Michael Jaffe, had been seeking at least 100 million euros ($119 million) to proceed with a sale of the assets rather than a liquidation, people familiar with the matter have said. Deutsche Bank had submitted a bid for some of Wirecard’s German assets, but the offer was considered too low, Bloomberg reported last week.

A Deutsche Bank spokesman declined to comment on ...