Deutsche Post World Net AG CEO Klaus Zumwinkel said the company has not held talks with Deutsche Bank on the bank taking a significant stake in Postbank AG.
Addressing a news conference following the announcement that the Postbank IPO will launch on June 21, Zumwinkel declined to comment on whether similar talks have taken place with other banks.
Read MoreGerman Economics and Labor Minister Wolfgang Clement said he opposes a European Union demand to amend a law protecting Deutsche Post AG’s monopoly on some services.
Companies including Federal Express Europe Inc. and United Parcel Deutschland Inc. & Co. say the mail carrier’s letter monopoly, protected through 2007, infringes EU competition rules. Mario Monti, the trade bloc’s competition commissioner, wants a legal amendment, easing Deutsche Post’s domination of so-called mail preparation activities, such as collecting and sorting.
Read MoreDeutsche Post World Net AG said it still expects to post 5-10 pct growth in EBITA in 2004 and said it hopes to be the world’s top logistics company by next year.
‘This year … we want to increase our operating results (EBITA),’ CEO Klaus Zumwinkel said in his opening speech at Deutsche Post’s annual general meeting.
He said the company expects ‘particularly strong EBITA increases in the Express division and in Financial Services’ this year.
Read MoreDeutsche Post World Net AG has not changed its plans to sell up to 50 pct minus one share in Postbank AG’s IPO, a Deutsche Post spokesman said.
But he declined to comment on Handelsblatt’s report that the volume of Postbank’s IPO has been reduced to 1.5-2.0 bln Eur from an estimated 2.5-3.0 bln Eur.
Read MoreDeutsche Post, the German state postal service operator, is reported to have bowed to customer demand, and is said therefore to be planning up to 1,500 new branches in residential areas with more than 2,000 inhabitants. It will limit the reduction of mailboxes to 108,000 units, and more customer-friendly opening hours are envisaged. The company had been facing criticism over plans for extensive reductions in the number of mailboxes and limits to be placed on services provided in sparsely populated areas.
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