No binding offers received for Postbank - sources

Wed Jun 25, 2008 10:26am BST

[-] Text [+]

FRANKFURT (Reuters) - The sale process for Deutsche Postbank (DPBGn.DE) has not yet advanced to the point that binding offers have been received by majority owner Deutsche Post (DPWGn.DE), financial sources said on Wednesday.

The sources said, however, that intensive talks were going on with parties including ING (ING.AS), Banco Santander (SAN.MC), Deutsche Bank (DBKGn.DE) and Lloyds TSB (LLOY.L).

Shares in Postbank leapt earlier on market talk that Lloyds TSB was preparing an 11 billion euro (8.7 billion pounds) bid for the bank at 67 euros per share.

By 0917 GMT, the shares were up 6.5 percent to 57.72 euros, leading the gainers in Germany's blue-chip DAX .GDAXI.

(Reporting by Mathias Inverardi)

Insider sales not a sell signal

U.S. corporate bosses are likely to sell more of their companies' stock through to the end of the year, but that does not mean share prices have topped. Full Article