June 18, 2014 / 11:17 AM / in 4 years

Societe Generale eyes Germany's DAB Bank - magazine

FRANKFURT, June 18 (Reuters) - French lender Societe Generale is interested in buying German online broker DAB Bank, which is being sold by parent HVB, Germany’s Manager Magazin reported, citing industry sources.

The deal could go through by August, the business magazine said.

HVB, owned by Italy’s UniCredit, said in May it was considering a sale of DAB Bank because it was regarded as non-strategic following a revamp of HVB’s retail business.

An HVB spokeswoman said on Wednesday that she would not comment on market rumours.

“We continually review our stake holdings and strategic options, including possible acquisitions and sales,” she said.

Societe Generale was not immediately available for comment. (Reporting by Jonathan Gould and Andreas Kroener; Editing by Pravin Char)

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