Deutsche Post hopes KfW/German govt to place remaining Post shares by end-2007

Deutsche Post AG chief executive Klaus Zumwinkel said he hopes that the German federal government and Kreditanstalt fuer Wiederaufbau (KfW) will have placed their remaining shares in Deutsche Post in the market by the end of 2007, when the company will lose its stamp monopoly. The comments come after KfW said it placed 110 mln shares of Deutsche Post at 18.90 eur each, adding that the value of the placement was 2.079 bln eur, excluding a greenshoe option of up to 15 pct which can be exercised until July 14. Commenting on the placement, Zumwinkel said KfW proved once again that it can carry out the gradual privatisation of the firm ‘in a sensitive … manner’.