Deutsche Post denies report it will cut postal charges to avoid EU fine
Deutsche Post World Net AG said a report that it plans to reduce letter postal charges in order to avoid a hefty fine from the EU for alleged malpractice is pure speculation.
The company’s statement follows today’s report in Handelsblatt newspaper that it plans to cut prices gradually over time, thereby foregoing about 572 mln eur in revenue, to avoid an EU fine.
The EU Commission has said it has to decide by Wednesday on what action to take over charges that Deutsche Post has subsidised its parcel operations through revenues from its monopoly mail business.
The commission could impose a fine of more than 500 mln eur, according to various.
