Commerzbank, Deutsche Bank: German Equity Preview

By Sheenagh Matthews

(Corrects Metro item to show that DSG wanted to sell itself.)

Sept. 8 (Bloomberg) -- The following companies may have unusual price changes in Germany. Stock symbols are in parentheses and prices are from the previous close.

DAX Index futures expiring in September dropped 2.6 percent, to 6,123 in Frankfurt. The DAX Index fell 2.4 percent to 6,127.44 on Sept. 5.

Commerzbank AG (CBK GY): The Frankfurt-based bank is still a takeover candidate even after its acquisition of Dresdner Bank AG, Ver.di union board member Uwe Foullong told Handelsblatt.

Separately, Commerzbank aims to win market share from savings banks, or Sparkassen, and expects to have 8 percent to 9 percent of the market for smaller companies by 2012, board member Markus Beumer told Welt am Sonntag. The shares dropped 2.5 percent to 16.82 euros.

Celesio AG (CLS1 GY): Europe's biggest drug wholesaler plans to buy between 30 and 50 pharmacies in Germany within a year of receiving legal approval, Frankfurter Allgemeine Sonntagszeitung said, citing Chief Executive Officer Fritz Oesterle. The stock fell 1.9 percent to 26.51 euros.

Daimler AG (DAI GY): The carmaker's shareholder Cevian Capital AB met with Chief Executive Officer Dieter Zetsche and demanded that the automaker sell its truck business, Focus said, without saying where it got the information.

Separately, Daimler and Robert Bosch GmbH plan to form a joint venture in North America to expand in spare truck parts, Automobilwoche said, citing unidentified spokespeople from both companies. The stock slipped 4.2 percent to 39.69 euros.

Deutsche Bank AG (DBK GY): Germany's biggest bank is back in the bidding process for Deutsche Post AG's Postbank and may buy a minority stake of less than 30 percent, Handelsblatt said, citing unidentified people from the industry. The stock slipped 1.8 percent to 56.69 euros.

Separately, Deutsche Post (DPW GY) has lowered the price it expects to get for Postbank after negotiations over the sale stalled, WirtschaftsWoche said, citing unidentified people from the Federal Ministry of Finance, which controls 30 percent of the logistics company. Deutsche Post declined 2.3 percent to 15.36 euros. Deutsche Postbank (DPB GY) gained 2.1 percent to 43.22 euros.

Deutsche Boerse AG (DB1 GY): The operator of the Frankfurt stock exchange plans to defend itself from a potential breakup by its two biggest shareholders, Frankfurter Allgemeine Sonntagszeitung said, citing an unidentified member of the company's supervisory board. The stock declined 3.6 percent to 62.41 euros.

Fraport AG (FRA GY): Chief Executive Officer Wilhelm Bender said plans to expand the Frankfurt airport aren't in danger of being blocked by lawsuits, according to an interview with Deutsche Presse-Agentur. The shares dropped 3.4 percent to 40.53 euros.

Metro AG (MEO GY): DSG International Plc, the owner of the Currys and PC World electronics chains, approached Metro AG about selling itself, and the German retailer rebuffed the approach, the Financial Times reported.

Separately, Metro may offer a delivery service to customers of its Cash & Carry wholesale grocery stores, WirtschaftsWoche said, citing unidentified company sources. Metro shares fell 1.1 percent to 37.69 euros.

Munich Re (MUV2 GY): The world's biggest reinsurer said capital market turmoil and higher catastrophe claims may halt a two-year decline of reinsurance rates as primary insurers may need to buy more coverage against risks. The shares fell 1.6 percent to 102.88 euros.

RWE AG (RWE GY): Chief Executive Officer Juergen Grossmann is looking for acquisitions in Germany and abroad, though he doesn't see a ``mega-merger'' with a foreign utility of similar size, according to a Frankfurter Rundschau interview. The shares lost 2.3 percent to 67.94 euros.

To contact the reporter on this story: Sheenagh Matthews in Frankfurt at smatthews6@bloomberg.net.