Deutsche Post up on talk of FedEx interest: traders

Shares in Deutsche Post rose on Monday as traders cited market talk that U.S. package delivery company FedEx Corp was interested in buying a stake in the German mail and logistics group.

“There are rumors that FedEx wants to buy a 14-percent stake in Deutsche Post,” one trader said.

Deutsche Post had no immediate comment.

Deutsche Post shares were up 1.5 percent at 20.40 euro by 6:34 a.m. EDT, while Germany’s top-30 index .GDAXI was up 0.9 percent.

Shares in Deutsche Post rose on Monday as traders cited market talk that U.S. package delivery company FedEx Corp was interested in buying a stake in the German mail and logistics group.

“There are rumors that FedEx wants to buy a 14-percent stake in Deutsche Post,” one trader said.

Deutsche Post had no immediate comment.

Deutsche Post shares were up 1.5 percent at 20.40 euro by 6:34 a.m. EDT, while Germany’s top-30 index .GDAXI was up 0.9 percent.