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WEDNESDAY SEPTEMBER 10
Catch Germany’s M&A Wave Some banks move on opportunity (or the lack thereof) faster than others. On the heels of Commerzbank AG’s €9.8 billion deal to buy Dresdner Bank AG, a multibillion-euro stake in a new bank is now on the auction block. And word has it that those interested come with some mighty big brand names. September 2008Deutsche Post AG could reach an agreement to sell its multibillion-euro stake in Deutsche Postbank AG as early as this week, in a deal that would add to the merger-and-acquisition wave in Germany's fragmented banking sector. German mail giant Deutsche Post may still put the sale process on hold if it doesn't secure enough of a premium for Postbank, which has a stock-market capitalization of €7.4 billion ($10.47 billion), people familiar with the matter said. Likely buyers are Deutsche Bank AG or Spain's Banco Santander SA, the people said. The long-anticipated sale of Postbank, a leading retail bank, would further shake up the German financial-services sector, which has witnessed two major takeovers since July amid growing consolidation pressures.
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