Deutsche Post makes non-binding offer for 25 pct stake in Post Danmark
Deutsche Post World Net AG has made a non-binding offer for a 25 pct stake in Danish postal service Post Danmark ahead of today’s deadline to table bids, said a company spokesman. The spokesman added Deutsche Post is also interested in a higher stake in Post Danmark if it succeeds in its initial bid, and if it is legally permitted.
He declined to say how high the bid was. Deutsche Post chief executive Klaus Zumwinkel said in July he was considering bidding for the stake in Post Danmark, which the Danish parliament has agreed to privatise.
The two postal services have been working closely together in parcel
distribution for the last two years.
Deutsche Post files initial bid for Post Danmark – report
NORDIC BUSINESS REPORT 09-06-2004
The German postal company Deutsche Post has reportedly filed an initial bid for a 25% stake in the Danish postal company Post Danmark.
According to a German newspaper the offer was non-binding.
With the acquisition of Post Danmark, Deutsche Post is trying to offset falling sales in Germany, where it would lose its monopoly on standard letters in 2007, reported Reuters.
The value of the bid was not disclosed.
German postal service makes expansion bid
Toronto Star, ONT, p E03 09-07-2004
Bloomberg News
Deutsche Post AG, Europe’s largest postal service, made an offer to buy 25 per cent of Post Danmark AS, the state-owned Danish postal service, under a plan to expand outside of Germany, chief financial officer Edgar Ernst said.
Danish authorities set a deadline of yesterday for offers for Copenhagen-based Post Danmark, which reported net income of 40 million euros (or about $62.65 million in Canadian funds) on sales of 1.43 billion euros last year. Ernst didn’t give details, and Uwe Bensien, a spokesperson, declined to say how much Bonn-based Deutsche Post had offered. Ernst said in July that any purchase would cost less than 100 million euros.
“We expect that the final offer from whoever will win the bid may be announced in December,” Bensien said. Co-operation between the two would have to first win approval from antitrust authorities, meaning a tie-up would probably be operational from mid-2005, he said.
