Deutsche Post to take 72% DHL stake early 2002

Deutsche Post is expect.ed to raise its stake in DHL Worldwide Express to 72 percent earlv in 2002, DIlL Iiiternational (UK) Ltd managing director David Coles said.
Deutsche Post has a 46.3 percent shareholding, which will rise to 51 percent and then to 72 percent over
quickly next year, he told journalists.
The German postal giant and logistics group ha.s previously said that it expects to hold a 51 percent stake once its acquisition of a 4.6 percent share held by Japan Airlines is cleared by competition authorities. Private investors and financial institutions hold the remaining DHL shares.
Deutsche Post is currently acting like a 49 percent shareholder. It will be different with 72 percent,’ he added.
He said that in Britain, DHL will be changing its infrastructure on January 1 and moving to have all international mail handled by Deutsche Post’s Global Mail unit, replacing three UK third party contracts which now handle the business.
Growth in 2001 was “half double digit”
and is expected to remain in the single figures in 2002, with uncertainty about the timing of an economic recovery clouding the picture, Coles added.