Deutsche Post is planning to buy a majority stake in the Austrian postal service, Osterreichische Post.
Deutsche Post, which generates 32.9 per cent of its E33.3bn (#21.3bn) group revenue (2001) outside Germany, is pushing for as much as 75 per cent. The Austrian government, which owns Osterreichische Post, has confirmed that talks have been held with the German company.
Read MoreGerman post and logistics group Deutsche Post has taken part in talks about the privatisation of the Austrian post office but political uncertainty in Austria means a deal is not imminent.
OeIAG, the Austrian agency in charge of privatising state holdings, confirmed there had been talks with Deutsche Post AG (DPWGn.DE) as well as with other postal services.
Read MoreThe Austrian government has no mandate to privatise its state postal monopoly, the Oesterreichische Post, despite media reports Deutsche Post AG has been in talks to take a 75 pct stake, the Vienna daily Der Standard reported, citing a board member of Austria’s state holdings company.
“There has been no decision by the ministerial council and thus the government has no mandate to privatise the Post,” Peter Michaelis told the newspaper.
Read MoreDeutsche Post World Net AG said it has taken 100% control of DHL International by acquiring the remaining 23% from two investment funds and 1.4% from Japan Airlines.
A company statement did not disclose financial details but noted that DHL plays “a decisive role” in Deutsche Post’s strategy.
Read MoreDeutsche Post has conducted due diligence of ING Group’s German banking unit as speculation grows that the Dutch financial services company is seeking to sell the business.
Postbank, the German postal company’s own financial unit, examined the BHF business several weeks ago, according to people close to the company. However, it was said to be “surprised” at BHF’s rising exposure to bad corporate loans.
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