Hermes, a subsidiary of Otto, the German retail and mail order group, is aiming to provide competition for Deutsche Post, the country’s postal service operator. In the autumn, the company is set to open its 8,500 ‘PaketShops’ to private customers, having previously been used for Otto’s mail order business
Read MoreFedEx Corp. and United Parcel Services are not expected to stand silently by while DHL Worldwide Express consummates its $1.05 billion takeover of Airborne.
FedEx and UPS have already pushed the Department of Transportation to look at the ownership of DHL. The companies claim that the DHL is really just an arm of the German government. “Both UPS and FedEx are going to object to DHL’s acquisition of Airborne’s ground base assets under the cover of regulatory and anticompetitive grounds,” said analyst Peter Jacobs, of Ragen MacKenzie, a division of Wells Fargo Investments,
Airborne on Monday confirmed it was in talks with Deutsche Post on a deal that could be worth USD 1bn and see the German postal operator buy the the US’s third largest express delivery company’s ground operations for an undisclosed cash sum at a premium to the group’s current share price.
Airborne said that such a deal with DHL Worldwide Express, a subsidiary of Deutsche Post, would involve setting up an independent public company that would continue to be wholly owned by Airborne’s shareholders.
Read MoreSecuricor, the private security group, on Monday said it had reached agreement to sell its 50 per cent stake in its UK parcels distribution business to Deutsche Post for Euro 284m (USD 299m), including assumed debt. The German postal operator, the other shareholder in the joint venture, will pay Euro 247m cash on completion for the 50 per cent stake it does not already own in Securicor Distribution. Securicor’s share of the venture’s net debt amounted to Euro 37m, bringing the total value of the disposal to Euro 284m.
Read MoreKlaus Zumwinkel, chairman of Deutsche Post, Germany’s dominant postal company, is to become chairman of the supervisory board of Deutsche Telekom. He will replace Hans-Dietrich Winkhaus, the board’s current chairman. Mr Zumwinkel will retain his position at Deutsche Post.
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