FRANKFURT, Germany, May 11 (UPI) -- Speculation that Deutsche Bank might attempt to take over Postbank despite earlier statements has prompted protests in Germany.
Postbank owner Deutsche Post announced last week that it would sell public shares of the bank, while maintaining a controlling interest in the company, but speculation is building that Deutsche Bank might attempt to take over Postbank completely, the Web site of German newsmagazine Der Spiegel reports.
The specter of a Deutsche Bank takeover and the cloak-and-dagger proceedings that seem to be surrounding it have drawn fire from German bank Commerzbank, which has called for an open bidding process, and others.
Deutsche Bank leadership has made no comment on a potential takeover bid, but Der Spiegel reports the bank's group executive committee met Tuesday to discuss the possibility. Media reports indicate Deutsche Bank might offer up to 6 billion euros ($7.1 billion) for a 100 percent interest in Postbank.
