German govt has no schedule yet for Deutsche Telekom, Post stake sale
The German government has not yet decided when to sell its remaining stakes in Deutsche Telekom AG and Deutsche Post World Net AG, sources said.
But when the time comes, it will likely transfer its shares to state-owned KfW Bankengruppe, the sources told dpa-AFX news agency.
The last such transaction was in January, when KfW bought a 12.7 pct stake
in Deutsche Post World Net AG from the government for 1.7 bln eur, raising its
total stake to 48.8 pct.
Financial Times Deutschland earlier today cited sources as saying Germany’s Finance Minister Hans Eichel plans to sell the government’s remaining stakes in Deutsche Post and Deutsche Telekom to help cover the budget deficit.
The budget deficits this year and possibly next year are expected to breach the EU criteria of a maximum 3 pct of GDP, officials said.
The government currently holds 22.74 pct of shares in Deutsche Telekom and a 20 pct stake in Deutsche Post.
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