German Allianz and Commerzbank are reported to jointly bid for Deutsche Postbank that would see a merger of Dresdner’s retail banking operations with Commerzbank and Postbank.
German Allianz and Commerzbank are reported to jointly bid for Deutsche Postbank, the country’s largest retail bank. According to the manager-magazin, both institutes offered 10 billion Euro for Postbank. This would create the second-largest German credit institut reshaping of Germany’s fragmented financial industry.
Allianz is reported to have held detailed discussions with Commerzbank. Under discussion is a three-way deal that would see it merge Dresdner’s retail banking operations with Commerzbank and Postbank.
Article manager magazin (German)
See also FT article (English)
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