Chinese bank eyes Allianz's Dresdner -magazine

FRANKFURT (Reuters) - A Chinese bank is interested in buying the corporate and investment banking activities of Allianz's (ALVG.DE: Quote, Profile, Research, Stock Buzz) Dresdner Bank and has already put forward a written offer, a German magazine reported on Wednesday.

Without citing sources for its report, manager magazin said there was a plan codenamed "Brasil" to merge Dresdner Bank's retail banking business with that of Deutsche Postbank (DPBGn.DE: Quote, Profile, Research, Stock Buzz).

A plan codenamed "Chiemsee" involves the sale of Dresdner's corporate and investment banking unit, Dresdner Kleinwort, the magazine said, adding that a Chinese bank it did not identify had already made an offer, even though the books on the unit are not yet open.

The magazine further reported that if the two plans failed, Allianz would try to forge an alliance between Dresdner and Commerzbank (CBKG.DE: Quote, Profile, Research, Stock Buzz).

Allianz said it had no comment. Dresdner was not immediately available for comment. Commerzbank declined comment.

(Reporting by Jonathan Gould; editing by Rory Channing)