Berlin - Deutsche Bank is to pay up to 2.7 billion euros (3.8 billion dollars) for a stake of almost 30 per cent in Deutsche Postbank, valuing it at some 9 billion euros, according to reports in Friday's German press.

According to information received by Deutsche Presse-Agentur dpa, Deutsche Post, Postbank's parent company, would receive "more than 2.5 billion euros" for 29.75 per cent of the shares.

The Financial Times Deutschland referred to "at least 2.6 billion euros," equivalent to up to 55 euros a share, and the online edition of the daily Die Welt put the figure at 2.7 billion euros in total.

Postbank shares rose 2.8 per cent in early trade to above 47.00 euros in Frankfurt.

Deutsche Bank shares rose 0.9 per cent to 59.95 euros, roughly in line with the rise of 0.8 per cent in the DAX index of 30 leading shares. Deutsche Post was up 2.6 per cent at 16.57.

Deutsche Post was expected to announce a decision on whether to dispose of the share at an early afternoon press conference in Bonn.

According to reports on the deal, details of which remain under wraps, Postbank is to continue trading as a separate entity from Deutsche Bank, which will retain an option on the purchase of the rest of the shares over the years ahead.

While Deutsche Bank is Germany's largest bank in terms of assets, Postbank, which provides banking services largely to smaller customers, has the most clients at some 14.6 million.

The deal, if it goes through, follows just two weeks after Germany's second-largest bank bought Dresdner, the third-largest, from insurer Allianz.

Spanish banking house Santander has also officially stated its interest in Postbank. (dpa)