EXCLUSIVE-Postbank sale talks on brink of collapse -sources
FRANKFURT (Reuters) - Active talks between Deutsche Post and
potential bidders for its majority stake in Germany's biggest retail lender
Deutsche Postbank have stalled with no buyer in sight, several
sources familiar with the matter told Reuters.
"There is nothing happening now," one source with direct knowledge of
the situation said on Tuesday.
Another source familiar with the situation said Deutsche Bank
, the last remaining potential bidder involved in intensive talks,
has now dropped its interest.
"There are no longer any talks with Deutsche Bank. The price
expectations were too far apart," the source said, adding the price would have
to fall dramatically for Deutsche to return to the negotiating table.
"The process has broken down, but is not dead yet," another person
familiar with the matter said.
Reuters already reported that British bank Lloyds TSB was also
dropping out of the running for Postbank, which has a market capitalisation of
7 billion euros ($10.28 billion), down from more than 10 billion just two
months ago.
Deutsche Bank and Lloyds declined to comment, while Deutsche Post said a
decision on the future of Postbank, which has nearly 15 million customers, had
yet to be taken.
"We are in a process whose outcome is open and we are not under time
pressure," a Deutsche Post spokeswoman said. (Reporting by Philipp Halstrick,
Matthias Inverardi and Patricia Uhlig) ($1=.6811 Euro) Keywords:
DEUTSCHEPOSTBANK/SALE
tf.TFN-Europe_newsdesk@thomson.com
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[DEUTSCHE POSTBANK AG,DPB,DE,,DE0008001009][DEUTSCHE POST AG,DPW,DE,,DE0005552004][LLOYDS TSB GROUP,LLOY,GB,,GB0008706128]
2008-08-19 12:42:38
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