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Air Berlin gains as Saudi investor enters

Air Berlin, Europe's third- biggest discount carrier, rose 1.9 percent in German trading after Saudi Arabian investor Kamal Abdullah S. Bahamdan acquired more than 3 percent of the airline, reported Bloomberg. The announcement is the second by Air Berlin this month of a large stock purchase by an individual from outside Germany. Robert Hersov, a London-based investor, controlled almost 18.6 per cent of the German airline as of Jan. 9, making him its biggest shareholder. Frankfurt-based Deutsche Bank AG, Germany's largest bank, ranks second with 14.9 per cent.