KarstadtQuelle declines comment on report interested in Consignia unit buy

Jul 2, 2002 | News | 0

KarstadtQuelle AG declined to comment on a report it is interested in buying Consignia PLC’s German Parcel unit.

“We don’t comment on market speculation,” said a spokesman.

Citing industry sources, Die Welt reported that the UK mail service aims to divest German Parcel in the light of continuing losses, and that KarstadtQuelle wants to buy the unit so it will no longer be dependent on Deutsche Post World Net AG for the shipping of its 100 mln packages per year.

German Parcel also declined to comment on the report.

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