ING ‘in talks’ with Germany’s Postbank

Financial services group ING is one of the parties talking to Germany’s Postbank about a possible takeover, reports Thursday’s Financieele Dagblad, quoting local media reports.

These say the Dutch firm would merge Postbank with its internet subsidiary ING Diba.
The market is divided on the value of such a takeover, says the FD. Some say the such a move would give ING a foothold in the German market which is difficult to penetrate.
But Andreas Plaiser of MM Warburg can see no reason for such a move. ‘Why would ING takeover Postbank? It has a clear focus with Diba which is now growing like anything,’ he told the FD.
Postbank is believed to be worth €14bn.

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