Tag: Deutsche Post

EU seeks repayment of Deutsche Post funds

Posted by | Jun 20, 2002 | |

The European Commission cracked down on Deutsche Post AG for the third time in little over a year Wednesday by ordering the repayment of what it said was EUR 572 million ($540 million) in illegal state aid.
The commission’s anti-monopoly authorities found that the national post office, which is majority owned by the government, used state funds from 1994-1998 to undercut rivals in its unprofitable package-delivery business. While domestic mail delivery remains a monopoly in Germany, parcel services have been open to competition for years.
“This decision is a victory for fair competition and customer choice,” said Anton van der Lande, an executive in Brussels for a rival delivery firm, United Parcel Service. UPS instigated the commission’s investigation when it filed a legal complaint in 1994.

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UPS: European Commission’s Decision on Deutsche Post State Aid Victory for Fair Competition

Posted by | Jun 19, 2002 | |

United Parcel Service (UPS) commends the European Commission on its decision today that Deutsche Post AG (DPAG) must repay 572 million euros plus interest for receiving state aid and using monopoly profits to subsidize its commercial activities, notably its parcel service. “This decision is a victory for fair competition and customer choice,” said Anton van der Lande, Vice President, UPS Public Affairs International.

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Deutsche Post must repay Euro 572 million used to subsidise price undercutting in commercial parcel services

Posted by | Jun 19, 2002 | |

After a careful analysis, the European Commission has concluded that Deutsche Post AG (DPAG) has used € 572 million, funds it received from the State to finance its public service mission, to finance an aggressive pricing policy intended to undercut private rivals in the parcel sector between 1994 and 1998. This behaviour breaches the key principle according to which companies that receive State funding for services of general interest cannot use these resources to subsidise activities open to competition. The German government has two months to inform the Commission of how it intends to recover the money unlawfully used by Deutsche Post in the commercial sector.

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Deutsche Post to appeal EU fine

Posted by | Jun 19, 2002 | |

The semi-privatised German postal authority Deutsche Post said on Wednesday it plans to appeal against the fine slapped on it by the European Commission in Brussels.
But Deutsche Post said in a statement it would be forced to take a 850-million-euro (806-million-dollar) charge against the fine on its 2002 accounts.
The statement said it had “taken note of the EU Commission’s decision on Wednesday to order the semi-public company to repay 572 million euros in state aid”, because Brussels believed it Deutsche Post had used that money to undercut private-sector rivals in the package delivery market between 1994 and 1998.
The amount is one of the biggest ever ordered repaid by the commission, which has found Deutsche Post in breach of competition rules twice in the past.

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Fanfare for Deutsche Post fizzles

Posted by | Jun 18, 2002 | |

When it comes to the mail, Germany’s postal monopoly can deliver – after all, its carriers voted last week not to go on strike. But when it comes to delivering a smile to shareholders – well, investors are still waiting.
Shares in Deutsche Post AG, issued with great fanfare in a blockbuster offering in November 2000, have traded below their E21 issue price for more than a year. They finished Monday at E14.10 ($13.33), down 34 cents and far below their 12-month peak of E19.81.

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