Germany to sell remaining Deutsche Post, Telekom shares by 2006

The German government plans to sell its remaining shareholdings in telecommunications giant Deutsche Telekom and the semi-privatised postal authority Deutsche Post by 2006, government sources said on Tuesday.

Berlin plans to raise around 15.5 billion euros (18.6 billion dollars) by selling the lion’s share of its remaining stakes in Deutsche Post and Deutsche Telekom next year, with the proceeds earmarked to go into the budget, the sources said.

The last few shares would then be sold in 2006.

The government currently holds around 26 percent of Deutsche Telekom and 20 percent of Deutsche Post.