Deutsche Post chief sees company fully privatised in next four years
Deutsche Post chairman Klaus Zumwinkel said in a magazine interview released Wednesday that he expects the semi-public German postal authority to be fully privatised within the next four years.
“I could well imagine the state cutting its stake to zero by 2007,” the expected date for the full liberalisation of letter-delivery services throughout the whole of Europe, Zumwinkel told the latest edition of the fortnightly magazine Capital.
Zumwinkel’s comments were scheduled to be published on Thursday, but released in advance.
The government currently holds a 50% stake in Deutsche Post and the state-owned development bank Kreditanstalt fuer Wiederaufbau (KfW) holds a further 18.3%.
It is not the first time that Zumwinkel has talked about the full privatisation of Deutsche Post, but his latest comments come at a time when the government is seeking ways of replenishing its empty state coffers.
Berlin is believed to be considering the possibility of parking additional shares in Deutsche Post and the telecommunications giant Deutsche Telekom with KfW, in order to help finance its planned tax cuts for 2004.
KfW is often used by the government as a vehicle for privatisations, with Berlin “parking” shares with the bank until they can be sold on the market at a later date.
