Tag: Deutsche Post

La Poste to make rare foray into bond market

Posted by | Jun 17, 2002 | |

La Poste, the French postal service operator, is aiming to complete a quick-fire bond offering this week ahead of transactions from Deutsche Post and Poste Italiane.La Poste awarded the mandate for a benchmark 15-year offering late last week to BNP Paribas and HSBC, but demand has proved strong and bankers close to the deal expect launch to take place by mid-week.
One banker said: “La Poste is an extremely rare issuer that always attracts a strong response. Not much marketing was needed and we have already received a lot of inquiries from investors both within and outside France.”

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Post offices hit in MBI collapse

Posted by | Jun 17, 2002 | |

Europe’s leading post offices head a £10m ( t10.6m) creditors’ list after the collapse in March of wholesaler and lettershop services provider Mail Brokers International.
And there may be more pain to come after holding company MBI Logistics followed Mail Brokers into liquidation last month.
Royal Mail, Parcelforce, Deutsche Post, La Poste, Swisspost and UPS are all owed six-figure sums. But a former MBI member of staff – one of 60 who received no salary or severance pay last month – said it was the smaller creditors he felt sorry for.
Creditors are pressuring the UK DTI to investigate MBI’s directors, accusing them of trading while knowingly insolvent.

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German Govt to Sell More DPWN Shares in 2003

Posted by | Jun 17, 2002 | |

Finance minister Hans Eichel will sell more Deutsche Post World Net AG and Deutche Telekom AG shares next year in order to reduce new government debt to 15.5 bln eur from 21.1 bln eur, Handelsblatt newspaper reported, citing government sources. The lack of other privatisation candidates means Eichel will have to sell more shares in Post and Telekom, it said, adding that Eichel has calculated he will receive about 6 bln in privatisation proceeds in 2003.

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Deutsche Post denies report it will cut postal charges to avoid EU fine

Posted by | Jun 17, 2002 | |

Deutsche Post World Net AG said a report that it plans to reduce letter postal charges in order to avoid a hefty fine from the EU for alleged malpractice is pure speculation.
The company’s statement follows today’s report in Handelsblatt newspaper that it plans to cut prices gradually over time, thereby foregoing about 572 mln eur in revenue, to avoid an EU fine.

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Deutsche Post Set to Cut Letter Rates to Avoid Subsidy-Repayment Order

Posted by | Jun 16, 2002 | |

Deutsche Post AG plans to cut the rates it charges for letter delivery in several stages, a move from which it expects to lose revenue totaling 572 million euros, in a bid to avoid having to repay subsidies running into hundreds of millions of euros.

The European Union’s Competition Commissioner, Mario Monti, has accused Deutsche Post of using receipts from letter post, over which it has a monopoly, to cross subsidize cut-throat pricing in areas that have been opened up to competition. The European Union Commission is to decide on the matter on Wednesday. It’s expected that it will make its highest ever demand for the repayment of subsidies.

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