Deutsche Post may call off Postbank sale
Deutsche Post AG may decide to call off a sale of Deutsche Postbank AG at a supervisory board meeting on Sept. 12, Handelsblatt reported, without saying where it got the information.
A previously targeted price for the Bonn-based bank of 10 billion euros (USD 14.6 billion) is now unrealistic, according to the German business newspaper. Deutsche Post has become more skeptical about a sale because of the drop in the valuation of banks, it added.
Bonn-based Deutsche Post, Europe’s biggest mail carrier, owns 50 percent plus one share of Postbank, which has a market value of about 7.3 billion euros.
Deutsche Post AG may decide to call off a sale of Deutsche Postbank AG at a supervisory board meeting on Sept. 12, Handelsblatt reported, without saying where it got the information.
A previously targeted price for the Bonn-based bank of 10 billion euros (USD 14.6 billion) is now unrealistic, according to the German business newspaper. Deutsche Post has become more skeptical about a sale because of the drop in the valuation of banks, it added.
Bonn-based Deutsche Post, Europe’s biggest mail carrier, owns 50 percent plus one share of Postbank, which has a market value of about 7.3 billion euros.
