Tag: Deutsche Post

German Deutsche Post ‘under pressure to cut Postbank IPO price’

Posted by | Jun 14, 2004 | |

Pressure is mounting on Deutsche Post to cut the price range for the IPO of its Postbank banking unit, as bankers admit hardly any investors are signing up for the offer.

Halfway though the bookrunning for the deal, one senior executive at a bank involved in the offering told the newspaper: ‘We have probably contacted 60 investors and, to a man, they have said ‘No’. They are not sitting on the fence. These were just flat refusals.’

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German publishers plan mail delivery alliance with TPG and Hermes Logistik

Posted by | Jun 11, 2004 | |

A group of major German newspaper publishers, reported to include Axel Springer Verlag, Verlagsgruppe Georg von Holtzbrinck and the WAZ group, is said to be planning a letter delivery alliance with German logistics group Hermes Logistik and Dutch postal service operator TPG. According to a press source, they are believed to be planning to participate in EP Europost, the joint venture owned 71 per cent by TPG and 29 per cent by Hermes.

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Deutsche Post will only able to acquire minor stake in Austria post

Posted by | Jun 10, 2004 | |

The Austrian government has announced that it is planning to sell only a minority stake in Osterreichische Post, the Austrian postal service. This will mean a considerable set-back for Deutsche Post, the German postal service, which had been hoping to acquire Osterreichische Post; OIAG, the Austrian industrial holding company in which all state-owned companies are bundled, had already held talks with Deutsche Post regarding the sale of a 74.9 per cent stake in the Austrian company. However, the Austrian government now says that it intends to maintain a majority stake in the Austrian postal service.

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German regulator looks into reports surrounding Deutsche Bank, Postbank

Posted by | Jun 8, 2004 | |

Germany’s financial services regulator said it is looking into reports about Deutsche Bank’s role in the planned offering of shares in Postbank, the banking unit of mail service Deutsche Post.

Deutsche Bank, Germany’s biggest, is acting as one of the global coordinators in Postbank’s initial public offering, set for June 21. But the buildup was marked by speculation that it was mulling a takeover over Postbank itself and a report that an internal memo on Postbank’s valuation was leaked.

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Deutsche Post confident that flotation of German Postbank will be a success

Posted by | Jun 8, 2004 | |

Deutsche Post, the German postal service, is confident that the planned flotation of Postbank, its banking subsidiary, will be successful, despite the fact that the price range for shares in the bank has been strongly criticised by investors. The price range has been set at 31.50 to 36.50 euros per share. Deutsche Post claims that foreign investors have shown particular interest in the bank so far; however, several major Anglo-Saxon fund companies are reported to find this price range too high.

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