The price of Deutsche Post shares is too low, the head of the semi-privatised postal authority, Klaus Zumwinkel, complained on Thursday. “A look at the development of the ‘yellow share’ (the nickname of Deutsche Post shares) since our last shareholder meeting shows that our owners cannot be satisfied with the share price,” Zumwinkel told shareholders at the group’s annual meeting here.
Read MoreThe European Commission said it invites comments on the purchase by TPG Group’s TNT Logistics of a 50 pct stake in DFDS Transport Logistics from DSV AS. The commision said TNT will acquire joint control of DSV Logistic Holding AS and DFDS Transport Logistics OY, which are both wholly owned by DSV.
Read MoreAlthough the parties involved in the China Postal dispute have agreed to set June 15 as the date for settlement, it appears that there is still no solution in sight. The Council of Asia Pacific Express Companies (CAPEC), whose members include UPS, DHL, FedEx and TNT, together with their joint venture partners and agents say they remain concerned about the proposal to give China Post administrative authority over international express companies and international freight forwarding through an entrustment approval procedure.
Read MoreMotorcycle couriers are considering offering express mail services in limited areas to take advantage of a bill before the Diet that would allow private companies to offer postal services under certain circumstances. The best chance they have of qualifying, however, is to guarantee that they can deliver mail entrusted to them within three hours-a condition that some in the industry say would be difficult to meet
Read MoreJapan’s ruling Liberal Democratic Party (LDP) Thursday reaffirmed its opposition to a set of postal deregulation bills for full privatization of postal services, Kyodo News reported Thursday.
The move by the LDP Policy Research Council’s Public Management, Home Affairs, Posts and Telecommunications Division came two days after a House of Representatives committee on postal services kicked off debate over the bills.
Prime Minister Junichiro Koizumi has long championed full liberalization of the postal services, saying the bills would be a milestone.
The issue of whether to privatize the postal services is highly political, as there are many lawmakers both in the ruling and opposition parties with vested interests in the postal services — mail, postal savings and life insurance.
The bills are designed to allow private firms to offer mail services under certain conditions and to establish a new public corporation in 2003 to take over the three state-run postal services.
Postal workers have voted overwhelmingly to accept a two-year pay offer, ending the threat of national industrial action, it was announced tonight.
Members of the Communication Workers Union backed the deal by 52,438 votes to 22,059 in a 52% turnout.
The deal is worth 2.2%, backdated from last October, and 2.3% from October this year.
Dutch postal and logistics company TPG NV said Wednesday it will eliminate 5,000 jobs through attrition in the next five to eight years because of expected declines in mail.
Mail volumes are expected to fall about 20 percent over the period because of alternative delivery methods, the company said.
TPG, which employs about 30,000 postal delivery workers, said the job cuts are expected to save the company about dlrs 281 million a year. If mail volume slips 1 percent, earnings before interest and taxes will fall by dlrs 14 million, it said.
The South African Post Office is likely to attempt to persuade government departments to start accepting electronic documents and the public to use such electronic filing facilities.
This is thanks to one of the last-minute changes the Portfolio Committee on Communications made this week to the Electronic Communications and Transactions (ECT) Bill, before the Bill moved on in the parliamentary process.
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