La Poste raises stake in DPD

Frances postal service, La Poste, said it has taken full strategic control of German express delivery company Deutscher Paket Dienst (DPD), raising its stake in the company to 86%. La Poste did not disclose the sum it paid to buy out six DPD divisions in and outside Germany, bringing an end to long-running talks. The French company previously held a 50.6% stake in DPD. Earlier reports have suggested that the deal could cost the state-owned French company up to 400 million euros (US $368 million). According to La Poste, the DPD units account for 87% of the German groups annual revenues, which were 624 million euros (US$574 million) in 1999.