Allianz seen as favourite to buy Deutsche Postbank
Allianz SE is favoured by Deutsche Post AG and parts of the German government in the tussle over buying Deutsche Postbank AG, Handelsblatt reported, citing banking sources and unidentified members of Postbank’s supervisory board.
The German finance ministry had until a few weeks ago preferred Commerbank AG among Postbank’s suitors but Commerzbank’s ability to shoulder the acquisitions was called into question because the bank’s market value was sapped by financial-market turbulence, the newspaper said, citing unspecified sources.
Deutsche Bank AG has also expressed interest in Postbank, Handelsblatt said.
Handelsblatt said that Allianz’s recently announced plans to split up its Dresdner Bank unit into an investment banking and a private/corporate clients entity is seen by banking experts as a preparatory step for taking over Postbank.
Deutsche Post, Deutsche Postbank, Allianz and Dredner all declined to comment, the newspaper said.
Postbank is controlled by Deutsche Post, whose largest single shareholder is the German government, which owns 31 pct of Post through its development bank KfW Bankengruppe.
Allianz SE is favoured by Deutsche Post AG and parts of the German government in the tussle over buying Deutsche Postbank AG, Handelsblatt reported, citing banking sources and unidentified members of Postbank’s supervisory board.
The German finance ministry had until a few weeks ago preferred Commerbank AG among Postbank’s suitors but Commerzbank’s ability to shoulder the acquisitions was called into question because the bank’s market value was sapped by financial-market turbulence, the newspaper said, citing unspecified sources.
Deutsche Bank AG has also expressed interest in Postbank, Handelsblatt said.
Handelsblatt said that Allianz’s recently announced plans to split up its Dresdner Bank unit into an investment banking and a private/corporate clients entity is seen by banking experts as a preparatory step for taking over Postbank.
Deutsche Post, Deutsche Postbank, Allianz and Dredner all declined to comment, the newspaper said.
Postbank is controlled by Deutsche Post, whose largest single shareholder is the German government, which owns 31 pct of Post through its development bank KfW Bankengruppe.
