Deutsche Post World Net AG has not changed its plans to sell up to 50 pct minus one share in Postbank AG’s IPO, a Deutsche Post spokesman said.
But he declined to comment on Handelsblatt’s report that the volume of Postbank’s IPO has been reduced to 1.5-2.0 bln Eur from an estimated 2.5-3.0 bln Eur.
Read MoreThe Brazilian bank Bonsucesso has signed a contract with the mail & express service company Correios to offer credit with discount in payroll for 103,000 workers. The company will compete with another banks who provide this service to Correios such as Alfa, HSBC and BMC. Bonsucesso may increase the credit portfolio by 20percent with this move, from RD100mil to RD120mil, since Correios will be its major partner.
Read MoreBeleaguered Royal Mail has come under fire again after the postal service watchdog has revealed that nearly nine million letters are sent to the wrong address each year.
Postwatch launches a campaign today to stop the delivery bungles by encouraging people to complain whenever they receive something in error. The organisation is sending out packs containing “Stamp Out Misdelivered Mail” stickers and a diary for recording wrongly-posted letters.
Read MoreAnchor Computer have been awarded the first *NCOALink™ Full Service Provider license issued by the USPS. Using secure data store technology the “Full Service Provider” NCOALink™ database provides mailers with more change-of-address moves, since it uses 48 months of up-to-date address information, versus the “Limited Service Provider” database that provides only 18 months of address information. National Change of Address (NCOA) identifies customers who have moved, improving mail deliverability and reducing the cost and time required to forward mail. The existing NCOA program will be replaced by NCOALink™ on September 30th 2004.
Read MoreCeska posta, the Czech Post Office, raised gross profits by 76 per cent to Kc916 million in 2003 from Kc520 million a year earlier, spokesman Ladislav Vancura told CTK today.
The growth was due to higher prices, a bigger volume of commercial services and lower costs, he added. Revenues rose by almost two per cent to Kc15.9 billion.
Read MoreSingapore Post said its year to March 2004 net profit fell 4 pct to 104.29 mln sgd as its core mailing business stabilised in the last three quarters after being hit by SARS and the Iraq war in the first quarter to June.
‘We are pleased that the performance of our core business remained stable this financial year, despite the tough economic conditions,’ SingPost CEO William Tan Soo Hock said.
Read MoreState-run Slovenska posta, the monopoly provider of postal services in Slovakia, netted Sk96m last year, compared with Sk169.75m in 2002, but its revenues grew by Sk734m to Sk6.76bn, according to results that the company released at todays press conference.
A change in the accounting method in harmony with an amended law on accounting made revenues rise by Sk200.93m last year. The bottom line was not affected by this because costs were raised by the same amount.
Read MoreThe CEO of Italian state-owned postal services company Poste Italiane SpA, Massimo Sarmi, said he knew nothing of any plans of local non-bank credit institution Cassa Depositi e Prestiti SpA (CDP) to acquire another stake in Poste Italiane.
A representative of CDP took part in Poste Italiane’s board of directors’ meeting on May 3, 2004, and no such plans were talked of, Sarmi added. Sarmi was asked if he knew of any plans of Cassa Depositi e Prestiti to raise its current 35 pct stake in Poste Italiane at a news conference on May 4, 2004.
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