Sale of KfW's Deutsche Post Stake 'Very Unlikely'

The state-owned Kreditanstalt fuer Wiederaufbau (KfW) bank would be unlikely to sell the roughly 30.1 pct stake it holds in Deutsche Post AG to The Children’s Investment Fund (TCI), financial sources close to the matter said.

‘The freeze period on the (sale of) KFW’s stake is due to end soon and this would set up the possibility of a sale of the stake, but the chances KFW would get the go-ahead from the government to do this would be extremely unlikely,’ the source said.

KfW said late last year that it was looking at the possibility of selling some of the shares it holds in Deutsche Post and Deutsche Telekom AG in 2007.

Shares in Deutsche Post had climbed by around 4.8 pct higher by midday, on speculation that TCI was willing to bid 30.25 eur per share to acquire between a 25-30 pct stake in the postal carrier.

A spokesman for Deutsche Post said the speculation is ‘the usual Post rumour’ and added there is nothing new to report from the company on the matter.

‘Business as usual,’ he said.