FRANKFURT (Dow Jones)--U.K. bank Lloyds TSB Group PLC /zigman2/quotes/200709414/composite LYG -3.05% has made a non-binding offer for Allianz SE's Dresdner Bank AG after several weeks of negotiations, German weekly magazine Der Spiegel reports, without citing sources.
Allianz, Lloyds TSB and Dresdner all declined to comment to Dow Jones Newswires Sunday.
People familiar with the matter told Dow Jones earlier this month that Commerzbank AG (CBK.XE) and Dresdner Bank are looking at each other's books.
According to the magazine, Banco Santander SA is also interested in the operations.
Santander Chairman Emilio Botin declined to comment on speculation linking Santander with Dresdner Bank or Citigroup Inc.'s /zigman2/quotes/207741460/composite C -1.47% German retail unit.
Magazine Web site: http://www.spiegel.de
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.
(END) Dow Jones Newswires
June 22, 2008 09:16 ET (13:16 GMT)