BERLIN, Sept 11: In what would be the third mega-deal in German retail banking in two months, Deutsche Bank has confirmed it is looking at an acquisition that would more than double its high street customer base.

Deutsche Bank said in a statement that it was in “advanced talks” on buying a stake in Postbank from Deutsche Post, Germany’s former postal monopoly. A deal, which could be worth more than seven billion euros ($9.7 billion) and which may be agreed as soon as Friday when Deutsche Post’s board meets, would represent a huge step up for Deutsche Bank.

As a unit of the Deutsche Post, Postbank has Germany’s biggest retail network with its more than 14 million clients able to bank in any of the country’s post offices.

Deutsche Bank, with just fewer than 10 million retail clients in Germany, is set to be leapfrogged in terms of branches and customers following Commerzbank’s 9.8-billion-euro takeover of Dresdner Bank announced on August 31.—AFP