BERLIN — Tchibo’s chances of evolving from a minority to a majority shareholder in Beiersdorf may have vastly improved in the wake of Procter & Gamble’s successful bid for Wella.

German financial circles speculated Wednesday that Allianz, Beiersdorf’s majority shareholder, may be warming up to an offer from Tchibo. That speculation was strengthened by Allianz chief financial officer Paul Achleitner’s statement Tuesday that "should a decent offer be placed on the table, we’d be ready to sell." More light may be shed on the situation today, when the Munich-based insurer and financial services company holds its annual press conference.

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