It's not even that unusual, or newsworthy. It's pretty common for banks, basically the rule for European banks. I'm still not convinced the numbers are "real" though. As I understand it, there are a few main arguments as to why "buy and strip" price arbitrage doesnt happen, and I'm not sure which is/are true:

- Regulatory barriers. JPM or Apple can't just buy Deutsche Bank because lawmakers won't allow it.

- They're too big to be bought out out by (European?) private equity, or controlling stakes aren't available.

- That's not real book value. Try to wind it down and it'll evaporate.

Maybe there are more. I understand that dividends and buybacks are currently limited by regulators in Europe, and that closes one valve for the price arbitrage, but still...