Austria Post & DPD jv

The Austrian Postal service has announced a joint venture with DPD, the German postal company, in which it will set up a subsidiary which will operate in central and eastern Europe.
The company is to be called DPD South East Europe, and also includes French comnpany La Poste. The company will begin by setting up business in Hungary before expanding to Slovakia and Slovenia. In the medium term thera are also plans to add Croatia and Bosnia-Herzegovina to the list of countries where it will operate. La Poste will increase its stake in DPD from the current 50.64% to 85%. DPD already operates in Austria and Osterreichische Post currently owns 30% of DPD Austria.