German government to sell Deutsche Post AG/Deutsche Telekom shares
The German government plans to sell shares in Deutsche Post AG DPWGn.DE and/or Deutsche Telekom AG DTEGn.DE this year to raise about 5.5 billion euros from privatisation, a source close to the ruling coalition said on Wednesday.
“The Red-Green coalition has agreed to privatisation proceeds of about 5.5 billion euros in its negotiations for the 2003 budget,” the source told Reuters.
The shares are likely to be parked at state-owned development bank Kreditanstalt fuer Wiederaufbau (KfW).
The source said the coalition had not yet decided how many shares in which of the companies would be sold.
KfW says the government currently owns 30.7% and KfW 12% of Deutsche Telekom’s share capital.
The government’s stake in Deutsche Post is 50% plus 26 shares. KfW’s stake in Deutsche Post’s share capital is 18.3%.
