Deutsche Post DHL could sell French parcel business
Deutsche Post DHL is seeking to sell its loss-making French parcel delivery business, reports Journal of Commerce. The article continues:
The parcel unit, which employs around 3,500 of DHL’s 14,000 strong French payroll, is expected to book an operating loss of around $90m this year on revenue of $525m.
Unions, which revealed DHL’s plans, said a sale likely will result in 1,000 to 1,500 job losses and could have a negative effect on the German company’s other operations in France, including express and freight transport.
Mory Groupe, a leading French logistics company with 7,000 employees and 2008 revenue of $1.35bn, and Caravelle, a Paris-based private investment group, have emerged as the most likely buyers for the business.
