Deutsche Post employees to be offered discounts on Postbank shares

Employees of Deutsche Post, the German postal service group, are to be offered a discount on the price of shares in Deutsche Postbank, the group’s banking subsidiary, when it is floated on 21 June 2004. Two employee participation schemes are said to be likely.

One scheme would allow employees to subscribe to shares to an upper limit of 270 euros. In this case, the employer would participate in the purchase through an interest-free advance salary payment, and the loan would then be repaid by instalment through salary deductions. The alternative, so-called individual investment scheme would allocate interested employees the shares which they subscribed, even in the case of heavy oversubscription. However, employees would be required to subscribe to share packages worth at least 400 euros.