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BNP frontrunner to take over Deutsche Bank derivatives unit - report

Reuters - UK Focus

FRANKFURT, Oct 18 (Reuters) - BNP Paribas is the frontrunner to take over Deutsche Bank's business that sells certificates and warrants to retail investors, a German newspaper reported on Friday.

Boersen-Zeitung, which cited no sources, said analysts had estimated the unit's value at 400-500 million euros ($445-$556 million).

BNP declined to comment.

Deutsche Bank in July announced a 7.4 billion euro sweeping overhaul and retreat from investment banking after years of losing market share on Wall Street.

The bank said in a statement it was reviewing the business after it decided to exit equity trading. "The review is ongoing and we are committed to continuing servicing clients as normal," it said.

($1 = 0.8997 euros) (Reporting by Vera Eckert and Patricia Uhlig, Editing by Mark Potter)