Author: Archive

€2.5bn target for Deutsche Post sale

Posted by | Nov 3, 2003 | |

Deutsche Post, Europe’s biggest postal service, has mandated Deutsche Bank and Morgan Stanley to manage the initial public offering (IPO) of its Deutsche Postbank unit in what would be Germany’s biggest flotation for two years.

The sale could raise at least €2.5bn ($3bn, £1.7bn), according to Deutsche Post, and would be the biggest since Deutsche Borse, Germany’s stock exchange, and Fraport, operator of the Frankfurt airport, sold shares to the public in 2001.

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Milkmen to deliver Royal Mail post backlog

Posted by | Nov 3, 2003 | |

Milkmen were preparing to deliver thousands of letters as Royal Mail chiefs warned that wildcat post strikes could “destroy” the loss-making company.

Executives at Express Dairies have confirmed they are preparing to deliver mail on 3,500 milk rounds to help businesses desperate to get letters and bills out to customers.

However, the milkmen are not able to collect or sort mail posted in letter boxes – and will not be used to clear the backlog in Royal Mail depots.

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CWU and UK Royal Mail reach deal to end strike

Posted by | Nov 3, 2003 | |

A deal to end a strike by British postal workers has been agreed between the Royal Mail and the Communications Workers Union.

Talks resumed on Sunday 2nd November between Royal Mail and labour union leaders to end a growing wildcat strike that has thrown postal services in Britain into disarray.

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Government pleads with both sides in UK postal strike

Posted by | Nov 2, 2003 | |

The government pleaded with both sides in the postal strike to resolve the conflict before serious damage was done to the economy. Patricia Hewitt, the Trade Secretary, said that both the Royal Mail and the wildcat strikers, whose unofficial action has brought the postal system to a halt, should resolve their dispute. “Customers are losing their mail, postal workers are losing their pay, and neither megaphone diplomacy nor unofficial action will solve the problem,” she said.

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Banks take Paris to task over La Poste

Posted by | Nov 2, 2003 | |

French bankers are well known for exaggerating threats, especially since their apocalyptic warnings about the financial crisis at Alstom persuaded the French government to step in with support for a 3.2bn bail-out of the ailing engineering group.

So it is hardly surprising that their howls of protest about the government’s plans to expand the financial services activities of La Poste, the French post office, have met more than a healthy dose of cynicism.

La Poste already offers deposits, the Livret A savings plan, life insurance and a mutual fund. However, it wants to expand into mortgages for customers who don’t already have savings accounts, as well as consumer credit and household insurance, to help offset heavy losses at its struggling mail delivery business.

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More swapits for Parceline

Posted by | Nov 1, 2003 | |

Parceline has extended the range of items that customers can swap using its one-to-one exchange service, swapit. Items that can be replaced via swapit now include computer monitors, DVD players, vacuum cleaners and telephone handsets. Through Parcelines swapit, the replacement is delivered and the original item collected in one single transaction.

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Fast Service at the Brazilian Post Office

Posted by | Nov 1, 2003 | |

The Brazilian Post Office has a network of services in 5,507 cities. with 82,000 employees, 12,200 postal outlets and a modern fleet of about 33,000 vehicles, transporting a volume of about 24.9 million pieces per day from north to south. In addition to the receipt and delivery of mail, the Post Office uses its network to supply various other services to the customers, including SEDEX express couriers, payment of bills, taxes, fines, and other kind of banking services.

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Deutsche Post expands its global reach as a logistics/express integrator

Posted by | Nov 1, 2003 | |

What does $6 billion buy? If you are Klaus Zumwinkel, the visionary management board chairman of Deutsche Post AG, which runs the German post office, it buys you entry into the global express delivery/logistics field at a time when your monopoly profits from Germany’s mail delivery business are coming under increasing pressure from government-driven liberalization and tariff regulation. But a scat at the table is not a license to print money, as Zumwinkel is learning.

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