Deutsche Post could soon be fined more than EUR800 million

The European Union could soon slap Deutsche Post AG with a record penalty of more than EUR800 million for allegedly using revenues from its monopoly letter business to undermine express mail competitors like United Parcel Service (UPS), say lawyers and a former E.U. Competition Commissioner. The ruling could jeopardize the German government’s plan to sell another block of shares in Deutsche Post. It still controls 69% of the company and wants to reduce its stake to less than 50%.