The German state development bank KfW has said it is selling €2 billion worth of shares in the German postal group Deutsche Post.
Kreditanstalt fuer Wiederaufbau is to sell a combination of shares and convertible bonds in Europe’s largest postal service at between €15.80 and €16.70 each, a statement said.
The sale is designed to widen shareholdings and raise the number of investors, a Post spokesman said.
Read MoreThe German public development bank KfW has began selling shares and convertible bonds in Deutsche Post, sending shares in the semi-state post office tumbling.
Kreditanstalt fuer Wiederaufbau bank (KfW), traditionally used by the government as a vehicle for privatisation, said it would raise about €2billion ($2.4 billion) from the sale of the shares and the bond issue.
A trader said the shares represented about 0.5% of Deutsche Post capital. The sale is designed to widen shareholdings and raise the number of investors, a Post spokesman said.
Read MoreThe two continental postal giants, Germany’s Deutsche Post and the quoted Dutch group TPG, are both competing to buy one of Britain’s biggest independent private mail companies. Deutsche Post and TPG have asked advisers to study the imminent sale of DX Mail, the £250m document exchange and specialist courier business owned by Hays. The delivery business is made more attractive by the fact it was recently awarded the first long-term licence to introduce additional mail services for businesses from Postcomm, the industry regulator.
Read MoreThe two continental postal giants, Germany’s Deutsche Post and the quoted Dutch group TPG, are both competing to buy one of Britain’s biggest independent private mail companies.
Deutsche Post and TPG have asked advisers to study the imminent sale of DX Mail, the £250m document exchange and specialist courier business owned by Hays.
The delivery business is made more attractive by the fact it was recently awarded the first long-term licence to introduce additional mail services for businesses from Postcomm, the industry regulator.
Read MoreDeutsche Post, the German postal service, is reported to be planning to make a bid for Star Track Express, the Australian delivery service. Deutsche Post is already represented in Australia through DHL Worldwide Express.
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