The German government has transferred some €5.5 billion ($6.3 billion) worth of shares in Deutsche Telekom and Deutsche post to the state-run reconstruction bank KfW, a KfW spokeswoman said.
The move, flagged back in July, will help Berlin replenish its coffers and also push ahead the ongoing privatisation of the telecommunications giant and the postal authority.
Read MoreDeutsche Post upbeat on prospects
Read MoreStrong figures for first nine months / Consolidated revenue around €29 billion / Consolidated net profit more than doubles to €869 million / LOGISTICS and EXPRESS with double-digit earnings growth / STAR earnings forecast for 2003 lifted to at least €400 million
Read MoreMail and express delivery company Deutsche Post AG have said that lower stamp prices in its German home market and a weaker dollar caused its third-quarter net profit to drop 7.6% despite a 2.6% rise in sales.
Net profit fell to euro219 million ($252 million) from euro237 million in the same period a year ago, while revenue rose to €9.71 billion ($11.16 billion) from €9.46 billion.
Read MorePostbank, the banking subsidiary of Deutsche Post, Germany’s postal service operator, is expected to register an increase in pre-tax profits of around 25% to €500m this year. This forecast has been made by Klaus Zumwinkel, chairman of Deutsche Post. He has stressed that Postbank will continue to focus on retail banking and services for medium-sized businesses and will refrain from entering other market segments.
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