IQ Letternet to grow and rival Deutsche Post
German postal service provider IQ Letternet reportedly intends to dispatch 100 million letters this year and establish itself as one of the top three rivals to German national postal services provider Deutsche Post. Rainer Pliska, head of IQ Letternet, has said that the company is aiming to attain turnover of 500m euros by 2010 and a 5 per cent share of the market. The intention is to achieve the rise in turnover through organic and strategic growth.
In order to assure cooperation with 53 regional delivery services, Mr Pliska intends to set up a joint-stock company under the name of IQ in which partners will be able to invest, and to float the company on the stock exchange in 2011 at the earliest. In order to protect regional partners, Deutsche Post will not be considered as a potential investment partner.
