Deutsche Bank rumours send Postbank to best daily gain September 17, 2004
Frankfurt - Shares in Deutsche Postbank yesterday had their biggest jump since the bank's listing after the Financial Times named it as a potential acquisition target for Deutsche Bank.
Postbank rose as much as 90c to e31.50 (R252.50). The stock has gained 6.8 percent since the initial public offering in June.
Unidentified Deutsche Bank executives were quoted as saying that Germany's biggest bank by assets had agreed to focus any acquisition activity on German retail banks in coming months.
Postbank, the lender with the most clients in Germany, was favoured over Commerzbank and HVB Group, the paper said.
An anonymous executive was quoted to have said a 20 percent stake could possibly be acquired by the third quarter of 2005.
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