Deutsche Post still plans to sell up to 50 pct minus 1 share in Postbank IPO

Deutsche Post World Net AG has not changed its plans to sell up to 50 pct minus one share in Postbank AG’s IPO, a Deutsche Post spokesman said.

But he declined to comment on Handelsblatt’s report that the volume of Postbank’s IPO has been reduced to 1.5-2.0 bln eur from an estimated 2.5-3.0 bln eur.

In September, Deutsche Post chairman Klaus Zumwinkel said the company wanted to remain majority shareholder in Postbank after the IPO, meaning ‘a maximum of 50 pct plus one share’. ‘Our plans have not changed basically,’ the spokesman said.

‘We’ve said the maximum was 50 pct minus one share. Just how many shares would be finally sold is not yet decided.’ Zumwinkel in February valued Postbank at ‘at least 6 bln,’ up from his valuation of ‘at least 5 bln’ the previous September.