DHL Worldwide plans to go ahead with its purchase of Airborne Inc. even if the U.S. Department of Transportation rejects the deal. If Airborne and DHL, which is owned by Deutsche Post World Net of Germany, cannot obtain DOT approval, DHL would acquire all of Airborne and then transfer Airborne’s freighter fleet to a third-party operator, according to James Valentine, an analyst with Morgan Stanley.
Read MoreThe head of the Royal Mail has warned Highlands and Islands customers that their full postal service may be scrapped. Allan Leighton, the organisation’s chairman, said a decision will be taken within the next 12 months to determine whether it will be able to continue fulfilling the same role at the same price as elsewhere in the country. However, Postcomm, the regulatory body, insisted last night that the Royal Mail’s Universal Service Obligation (USO) would have to continue.
Read MoreJean-Paul Bailly, chairman of the French post office (La Poste), yesterday announced plans to bring his organisation up to a level where it can compete with its German and Dutch counterparts, Deutsche Post and TPG respectively, by 2007. This strategy, which is intended to prepare La Poste for the liberalisation of the European postal sector, involves a 1bn-euro programme to modernise the French group’s mail-services division, including more than 600m euros for automation equipment.
Read MoreSingapore Telecommunications Limited (“SingTel”) today announced that Singapore Post Limited (“SingPost”), currently a wholly-owned subsidiary of SingTel, has launched a S$300 million bond issue. The unsecured bonds will have a maturity of ten years with a coupon of 3.13 per cent per annum payable semi-annually with an issue price of par. The issue, which will be fully underwritten, is jointly lead-managed by The Development Bank of Singapore Ltd and UBS AG, acting through its business group UBS Warburg.
Read MoreBob Wigley has been appointed as a new Non-executive Director to Royal Mail. He will take up the post this month.
DTI Minister Stephen Timms said: “Bob Wigley will be a welcome addition to the new Royal Mail management team. His appointment is part of a major push to strengthen the leadership at Royal Mail. The company stands to benefit from his considerable experience.”
Read MoreAscom, the internationally active Swiss high-tech Group and Neopost, the number two world-wide supplier of mailing solutions, today announced the closing of the acquisition of Ascom Hasler, the number three world-wide supplier of mailing systems. Following the closing of Ascom Hasler North-American operations on February 28, 2002, this is now the second and last step of the transaction that is being processed, with the acquisition of Ascom Hasler’s operations outside North America.
Read MoreTPG has acquired a 100% stake in blitzpunkt GmbH (blitzpunkt), an unaddressed mail distribution company based in eastern Germany. blitzpunkt had revenues of around EUR 10 million in 200. It delivers 355 million leaflets and 19 million free newspapers per year. The company gives TPG Post access to 8,000 round-based deliverers offering full coverage to over 1.9 million households in the Saxony and East Thuringia(Gera) regions in the former East Germany. The acquisition also establishes a stepping stone for further regional expansion.
Read MoreThe US Postal Service has proposed special discounts for large credit-card company Capital One Financial Corp., the nation’s heaviest user of first-class mail, in hopes of generating new revenue. It is the first time the world’s largest mail system has offered reduced rates specially created for just one customer. Thousands of businesses already get standardized price breaks for sorting their mail by ZIP Codes and other chores that shrink the post office’s workload. But the agency wants to do more for companies that could help it resist the invasion of e-mail and electronic bill-payment systems.
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