German Postbank expected to go public
Market experts believe that Deutsche Postbank, the banking subsidiary of German postal service operator Deutsche Post, will go public after all and regard it as unlikely that the flotation will be cancelled. Deutsche Post, which is planning to place up to 50 per cent minus one share in Postbank on 21 June 2004, opposes a sale of its subsidiary to Deutsche Bank, Germany’s largest bank, and is determined to keep a majority stake in the retail bank.
Deutsche Bank is, however, said to be holding negotiations with the German government, which still owns a majority holding in Deutsche Post. Germany’s largest bank is interested in acquiring Postbank, Germany’s leading retail bank. Several German business leaders favour a sale of Postbank to Deutsche Bank and are said to have advised German chancellor Gerhard Schroder to decide in favour of a sale to Germany’s largest bank.
