German Deutsche Post interested in attracting financial investors
German postal service group Deutsche Post AG is more than interested in attracting large financial investors in its shareholders’ structure, group CEO Klaus Zumwinkel said on May 8, 2006 in an interview to a German newspaper.
Deutsche Post has a high and constant dividend yield, Zumwinkel said. The business prospects are excellent and the financial situation is more than solid, he added.
Zumwinkel refuses to accept an opening of the postal market in Germany at the end of 2007 since all other neighbouring countries plan to open their postal markets for private competition not earlier than in 2010, 2011. Deutsche Post would be happy with an opening in case it comes two or three years earlier than in the rest of Europe.
In case the postal market is liberalised, Deutsche Post will have to further decrease costs and negotiate with local trade union ver.di on the common wage agreement, according to Zumwinkel. The group now creates more favourable financial conditions for its staff by using its dominant position on the market. The mail dispatching costs are lower when the employee has to deliver 10 letters to a house than only one but this might change in the future and Deutsche Post may be forced to renegotiate its wage agreement, Zumwinkel said.
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