Rentokil warns on 2004 profits; chairman steps down
Rentokil warns on 2004 profits; chairman steps down
Read MoreTag: Courier/Express/Parcels
Seur delays plan to list after GeoPost takes stake in express transport firm
Leading express transport company Seur said Monday that it has put off
plans to seek a stockmarket listing for at least three or four years
following the acquisition of a 12.72 percent stake in the company by
French group GeoPost.
Seur was initially planning to float the company next year.
Read MoreSpanish Seur delays plan to list after GeoPost takes stake in express transport firm
Leading express transport company Seur said Monday that it has put off plans to seek a stockmarket listing for at least three or four years following the acquisition of a 12.72 percent stake in the company by French group GeoPost.
Seur was initially planning to float the company next year.
Seur executive vice-president Ramón Mayo said: “Seur is not planning a stockmarket float within a period of three or four years, but will study then whether or not this possibility is convenient for the company in the future. Mayo said if Seur does eventually seek to list its shares it will do so accompanied by GeoPost.
Read MoreLa Poste acquires 12.8% of Seur
La Poste, the French post office, has paid 90m euros for a 12.8 per cent stake in Seur, the Spanish parcel delivery group, up until now an entirely private company. The operation was carried out via Geopost, La Poste’s urgent transport subsidiary. La Poste is also acquiring 60 per cent of Seur’s Madrid franchise, its largest. UK investment bank Rothschild acted as advisor. Julian Recuenco, owner of Seur’s Seville and Malaga franchises, is the second largest shareholder after La Poste, with 6.2 per cent.
Read MoreChina never approved foreign-funded express firms: post bureau
No sooner had DHL declared it the first foreign firm to carry out express delivery service in China and stirred up media fever when a spokesperson from the China State Post Bureau claimed that so far, it had never approved any foreign- funded company to set foot in the field. The bureau hasn’t provided DHL with the license necessary for carrying out express business in China, nor did it approve any other foreign-funded firm, said the spokesman. China did not promise to open its postal market in its commitment to the WTO. As to whether DHL has violated Chinese laws and regulations by founding a place in the field, the bureau said it would keep a close eye on DHL’s business in China.
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