Sale of Postbank is still under the question
4 September 2008Situation with sale Postbank remains not clear within several months. Now the main problem of the transaction relies in question of the price. Financial crisis has destroyed all plans of parent concern Deutsche Post, which hoped to receive about 10 billion euro for the bank. Times, when the rate of Postbank’s shares exceeded 60 and even 70 euros, have remained in the past.
On Monday its securities cost about 44 euros. Thus, exchange cost of Postbank has decreased approximately up to 7 billion euro.
In view of such succession of events Deutsche Post has declined to postpone sale of “daughter” till the best times - when the situation in the financial markets will become more favorable.
Recently there was information, that Deutsche Bank is the most probable candidate on purchase of Postbank, however, names of Spanish bank Santander and Netherlands ING simultaneously sounded.
After Commerzbank’s and Dresdner Bank’s merge it became obvious, that the variant of their “tripartite alliance” with Postbank from the agenda is finally postponed.
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