Businesses in the US are being encouraged to use a bank-provided alternative last mile service to speed up customer payment processes in the light of changes to the US mail network.
Read Moreeutsche Post is in no rush to sell its 50 percent plus one share stake in Deutsche Postbank, Post’s finance chief was quoted on Saturday as saying.
“If the management board would reach the conclusion that the time to sell is bad then we are under no pressure to sell,” Chief Financial Officer John Allen told German financial daily Boersen-Zeitung.
Post was still in talks with a small number of prospective buyers but it was impossible to say when or whether a sale of Postbank would happen, he told the newspaper.
According to sources familiar with the matter, prospective buyers of Germany’s biggest retail bank with nearly 15 million customers could include Deutsche Bank, Banco Santander of Spain and Dutch ING Group NV.
The recent fall in share prices of financial companies around the world — Postbank has lost a quarter of its market value since early June — has led analysts to doubt whether Post can obtain the kind of price it wants for its Postbank stake.
Read MoreDeutsche Post AG may struggle to sell its Deutsche Postbank banking division as bidders are unwilling to match price expectations, WirtschaftsWoche reported, citing unidentified Finance Ministry officials.
Deutsche Post wants at least 10 billion euros (USD 16 billion) for Germany’s biggest consumer bank, a person familiar with the matter said, according to the report. That’s above offers of between 8 billion euros and 9 billion euros, the magazine said.
Spain’s Banco Santander SA and Lloyds TSB Group Plc are still interested in acquiring Deutsche Postbank, the magazine said. Deutsche Bank AG doesn’t want to pay more than 10 billion euros for a purchase and Commerzbank AG is no longer bidding for the Bonn-based bank, WirtschaftsWoche said.
Deutsche Post is also getting doubts about selling the banking division that provides stable earnings as the rising oil price is putting pressure on the logistics unit, according to the report.
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