Money Deutsche Bank shares little moved: Deutsche Bank allegedly wants to sell Postbank IT

20:30  22 october  2020
20:30  22 october  2020 Source:   finanzen.net

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According to an agency report, Deutsche Bank wants to sell Postbank's IT division.

TORU YAMANAKA/AFP/Getty Images © Provided by Finanz.net TORU YAMANAKA / AFP / Getty Images

According to insiders, Deutsche Bank wants to part with its IT subsidiary Postbank Systems. There are already advanced talks with the Indian software provider Tata Consultancy Services, reported the Bloomberg news agency on Thursday, citing people familiar with the matter. He is interested in taking over the company with 1400 employees, most of whom are based in Bonn. The deal should come about this year, it said. But the talks could still fail. A spokesman for Deutsche Bank refused to comment on the report. Tata Consultancy declined to comment when asked by Bloomberg.

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The sale would bring Deutsche Bank boss Christian Sewing closer to his goal of cutting a total of around 18,000 jobs in the group. Postbank Systems has so far provided IT services for the Deutsche Bank subsidiary Postbank. However, the group is currently merging the computer systems of mother and daughter. As a result, Postbank Systems should have significantly less to do in the future.

Tata Consultancy employs more than 450,000 people worldwide. In 2008, the company bought Citigroup from the US bank 's back office area and paid US $ 505 million for it.

The Deutsche Bank share lost 2.14 percent to 7.79 euros in early XETRA trading on Thursday. In the course of the year, however, it made up for its losses and ended up trading a marginal 0.03 percent higher at 7.96 euros. Frankfurt (dpa-AFX / Reuters)

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