German Postal Service plans Austrian takeover
Deutsche Post is planning to buy a majority stake in the Austrian postal service, Osterreichische Post.
Deutsche Post, which generates 32.9 per cent of its E33.3bn (#21.3bn) group revenue (2001) outside Germany, is pushing for as much as 75 per cent. The Austrian government, which owns Osterreichische Post, has confirmed that talks have been held with the German company.
But the widely-anticipated takeover has been delayed by rules governing the privatisation of a majority stake. The government has timetabled a decision for early 2003.
The approach comes as Deutsche Post makes similar in-roads in the Asia- Pacific region (PM August 16). It wants to offer a discount international mail service in Japan and undercut Japanese post offices. The company will also be allowed to set its own prices when it enters the UK market (PM August 30).
Deutsche Post is already active in letter delivery in Austria through subsidiary Global Mail Austria, and in parcel delivery through Deutsche Post Euroexpress Osterreich.
