Dutch TNT Plans Taking Over German PostCon
Dutch mail and express deliveries group TNT NV plans to take over a majority stake in PostCon AG, a consortium of customers of German postal services group Deutsche Post AG, it was reported on July 28, 2006.
TNT has already registered for the takeover through its German subsidiary TNT Post Holding GmbH, the German Federal Cartel Office told German daily Die Welt.
TNT (www.tnt.com) expects the decision of the Cartel Office, scheduled for August 2006, to be positive, on grounds of the Deutsche Post’s market dominating position, according to the report.
Berlin-based PostCon AG (www.postcon.de) is Germany’s market leader in the consolidation of postal services, according to German business daily Wirtschaftswoche. PostCon collects the mailings from its clients and sorts them by postal code and destination, before giving them over to the Deutsche Post (www.dpwn.de) for delivery.
PostCon is made up of German banking group Commerzbank AG (www.commerzbank.de), Royal Philips Electronics (www.philips.de), German coffee and retail group Tchibo Holding AG (www.tchibo-konzern.de), German chemical and pharmaceutical group, Merck KGaA (www.merck.de) and local insurance group Alte Leipziger – Hallesche (www.al-h.de).
