Deutsche Post confirms 1 bln eur payment by govt earmarked for shareholders

A spokeswoman for Deutsche Post World Net AG. reiterated the company is earmarking for shareholders the some 1 billion euros it has received from the German government as a payment related to a ruling on state aid.
The European Union’s second highest court July 1 said Deutsche Post did not have to repay 572 million euros in state aid received by the German government, as ruled by the European Commission in 2002.
The EU Commission had ruled that Deutsche Post had used the money to subsidise its parcel operations instead of using it to provide the universal service it is obliged to offer to ensure mail is delivered to remote regions.
Adding interest, Deutsche Post could claim back 1 billion euros and has now received the payment.
Deutsche Post at the time said it will preferably pay out the payment to shareholders ‘pending clarity on other cash-relevant issues’.

A spokeswoman for Deutsche Post World Net AG. reiterated the company is earmarking for shareholders the some 1 billion euros it has received from the German government as a payment related to a ruling on state aid.
The European Union’s second highest court July 1 said Deutsche Post did not have to repay 572 million euros in state aid received by the German government, as ruled by the European Commission in 2002.
The EU Commission had ruled that Deutsche Post had used the money to subsidise its parcel operations instead of using it to provide the universal service it is obliged to offer to ensure mail is delivered to remote regions.
Adding interest, Deutsche Post could claim back 1 billion euros and has now received the payment.
Deutsche Post at the time said it will preferably pay out the payment to shareholders ‘pending clarity on other cash-relevant issues’.