The German insurer Allianz and Commerzbank have put forward a joint bid for Postbank worth 10 billion euros (15.7 billion dollars), the weekly Manager Magazin said on its website Thursday.<br/><br/>Citing sources close to the matter, it said Allianz would eventually like to merge Postbank, controlled by the logistics group Deutsche Post, with its own commercial bank, Dresdner Bank.<br/><br/>It said Deutsche Post wants to sell Postbank, which has attracted considerable interest because of its strong position in German retail banking.<br/><br/>An Allianz spokesman contacted by AFP declined comment. Postbank, Commerzbank and Deutsche Post were all unavailable as Thursday is a religious holiday in much of Germany.<br/><br/>Postbank shares rose 2.19 percent to 61.20 euros on news of the report on the Frankfurt exchange, which was generally stronger.<br/><br/>The possible sale of Postbank has sparked comment in Germany where it could signal a decisive move toward consolidation in the banking sector and could see the birth of a German financial "national champion."<br/><br/>The fate of Postbank has been followed closely by the German government, which has a 31 percent interest Deutsche Post. The rest is publicly listed.<br/><br/>The government wants Deutsche Post to sell its stake of 50 percent plus one share in Postbank.<br/><br/>
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