Deutsche Post in no rush to sell Postbank: CFO
eutsche 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.
