Deutsche Post considers major takeover in US or Asia
German postal and logistics giant Deutsche Post is considering a major takeover this year in the United States or in Asia, the group’s chief executive said, according to investment magazine Die Teleboerse.
“We would be bad business people if we didn’t very thoroughly check out opportunities in the United States and, I emphasise, also in Asia,” Chief Executive Klaus Zumwinkel said.
Zumwinkel declined to comment directly on whether Deutsche Post was interested in acquiring Airborne Inc. (NYSE:ABF – news), saying simply: “Airborne is number three behind UPS (NYSE:UPS – news) and FedEx (NYSE:FDX – news) in the American market.”
Airborne Inc in February reported a fourth-quarter profit, reversing a year-ago loss. There has long been speculation that Deutsche Post was interested in acquiring the company, which is the third-largest U.S. express shipper.
In an interview with Reuters last week, Deutsche Post Chief Financial Officer Edgar Ernst said the group did not rule out any potential acquisitions but did not have any currently in sight.
