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HVB says gets green light for German bank acquisitions
March 12, 2015 / 11:02 AM / 3 years ago

HVB says gets green light for German bank acquisitions

MUNICH, Germany, March 12 (Reuters) - Germany’s Hypovereinsbank said it had received the green light from its parent company, Italy’s UniCredit, to make acquisitions in Germany and that it aimed to look at Postbank , owned by rival lender Deutsche Bank.

Speaking at a media briefing on Thursday, Chief Executive Theodor Weimer said HVB was under no pressure to buy Postbank and that Postbank had not been offered for sale.

Deutsche Bank launched a strategic review in December 2014, sparking speculation that it aimed to sell Postbank in order to focus more on investment banking and wealth management.

Reporting by Andreas Kroener; Writing by Thomas Atkins; Editing by Georgina Prodhan

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