Deutsche Post sell 22.9% stake in Postbank

Deutsche Bank has agreed to acquire 22.9% of Postbank from Deutsche Post AG for around €1.1bn ($1.4bn)in stock and increase that holding in the years ahead.

Deutsche Bank has agreed to acquire 22.9% of Postbank from Deutsche Post AG for around €1.1bn ($1.4bn) in stock and increase that holding in the years ahead.

Earlier this month, Deutsche Bank reported a record €4.8bn ($6.1bn) net loss for the fourth quarter and its first annual deficit in more than 50 years.