German government to make preliminary decision this summer on Postbank sale
The German government is expected to make a preliminary decision this summer with regard to the sale of Deutsche Post AG.’s banking unit Deutsche Postbank AG, according to a prerelease of Handelsblatt, citing government sources.
It said German Finance Minister Peer Steinbrueck will meet with Deutsche Post CEO Frank Appel in the summer and the latter is expected to inform the minister who should be the buyer of Postbank.
The state-owned development bank KfW Bankengruppe holds 30.50 percent stake in Deutsche Post, which in turn owns 50 percent plus one share in Postbank.
Handelsblatt said today Deutsche Post is expected to make an official invitation next week to interested parties to participate in the bidding process.
Deutsche Post and Postbank declined comment to the newspaper.
The German government is expected to make a preliminary decision this summer with regard to the sale of Deutsche Post AG.’s banking unit Deutsche Postbank AG, according to a prerelease of Handelsblatt, citing government sources.
It said German Finance Minister Peer Steinbrueck will meet with Deutsche Post CEO Frank Appel in the summer and the latter is expected to inform the minister who should be the buyer of Postbank.
The state-owned development bank KfW Bankengruppe holds 30.50 percent stake in Deutsche Post, which in turn owns 50 percent plus one share in Postbank.
Handelsblatt said today Deutsche Post is expected to make an official invitation next week to interested parties to participate in the bidding process.
Deutsche Post and Postbank declined comment to the newspaper.
