Tag: Deutsche Post

Up to 1,600 job cuts expected at German Deutsche Post

Posted by | Jun 25, 2004 | |

Deutsche Post, the German postal service, is planning up to 1,600 job cuts in Germany by the end of 2006. This is said to be due to the planned merger of three of the company’s subsidiaries, Danzas, Euroexpress and DHL, to form an integrated subsidiary that will be responsible for parcel and express services. The job cuts form part of the company’s ‘Star’ programme, which was launched at the end of 2002 and which is intended to save the company a total of 1.4bn euros by 2005.

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UPS files new EU complaints over Deutsche Post practices

Posted by | Jun 24, 2004 | |

European Union regulators recently received two more complaints from United Parcel Services Inc against Deutsche Post World Net AG for the alleged hoarding of state funds and monopoly. The filing urges outgoing antitrust head Mario Monti to launch formal inquiries on Deutsche Post, but EU officials have not begun any official investigations to date.

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German Deutsche Post to merge three subsidiaries

Posted by | Jun 24, 2004 | |

Deutsche Post, the German postal service, is planning to merge three of its subsidiaries, Euro Express, Danzas and DHL. The integration of these subsidiaries forms part of the company’s Star programme, with which the company is aiming to increase its profit to 3.6bn euros by 2005. This corresponds to a rise of 1.4bn euros over a period of three years. The subsidiaries are to be merged to form a new company called Deutsche Post Euro Express Verwaltungs GmbH.

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Deutsche Post prices Postbank IPO at 28.50 eur/shr

Posted by | Jun 23, 2004 | |

Deutsche Post World Net AG said it has set at 28.50 eur/shr the IPO price of its banking arm Postbank AG. A statement late yesterday said the IPO was more than twice subscribed. Postbank shares will be traded from today at Frankfurt’s stock exchange.

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Postbank shares open at 29 euros on first day of trading

Posted by | Jun 23, 2004 | |

Shares in Postbank, the banking arm of the semi-privatised German postal authority Deutsche Post, debuted on the Frankfurt stock exchange at a price of 29 euros on Wednesday, slightly higher than their issue price of 28.50 euros. Deutsche Post floated 55 million Postbank shares – or around 33 percent of the unit’s share capital – on the stock exchange on Wednesday in the biggest initial public offering (IPO) in Germany in nearly four years.

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