Deutsche Bank says now owns 51.98 pct of Postbank

Deutsche Bank had said Friday that it had acquired a majority holding in Postbank, which has the biggest retail banking network in the biggest European economy.

The public offer allowed Deutsche Bank to buy a little more than 22.02 per cent of the shares in Postbank for 25 euros ($32.9) per share, in addition to a previously owned holding of roughly 29.95 per cent, a statement said.

Postbank is to be fully integrated into the parent group's books by the end of the year, and will add a crucial source of retail banking income to Deutsche Bank's traditional activities in investment banking.