Deutsche Post eyes privatisation of Italian, UAE State Post Offices
German postal and logistics group Deutsche Post AG will study the possibilities to participate in the privatisation of its Italian and UAE peers, a company spokesperson said on March 4, 2005, confirming previous reports.
Italy’s Prime Minister Silvio Berlusconi eyes a partial privatisation of Poste Italiane within 18 months. The company more than doubled its net profit to 236 mln euro (USD309.3 mln) in 2004 on sales of 9.0 bln euro (USD11.8 bln), up 11 pct year-on-year.
The UAE state post is also considered a profitable business.
Deutsche Post has submitted a bid for 25 pct of Danish Post Danmark. A decision is expected shortly, a spokesperson for the Danish company said. Deutsche Post is considered to have the strongest position of all bidders, as it already cooperates with Post Danmark in package deliveries. Dutch TPG and financial investor CVC Capital Partners are also among the bidders.
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