In a note on the European mail sector after UK regulator Postcomm announced plans to introduce “serious” competition to the UK market, ABN Amro said Deutsche Post World Net AG, TPG NV and Hays PLC stand to benefit particularly from increasing liberalisation, dealers said.
Read MoreDeutsche Post AG looked likely Friday to emerge financially unscathed from a political dispute over a sales tax exemption for the partially privatized mail group.The lower house of parliament’s auditing committee will reject suggestions that an extension of the 16% sales tax exemption to areas where Deutsche Post doesn’t have a guaranteed monopoly was illegal.
Read MoreDeutsche Post AG is on course for a row with the German audit office over the extent to which the German postal services and logistics group should enjoy its controversial freedom from sales tax. On Thursday, Deutsche Post denied that it was currently enjoying an unfair competitive advantage due to tax breaks. A company spokesman said its freedom from sales tax was conferred under German and European Union law by virtue of its status as the provider of a public service.
Read MoreThe European Union could soon slap Deutsche Post AG with a record penalty of more than EUR800 million for allegedly using revenues from its monopoly letter business to undermine express mail competitors like United Parcel Service (UPS), say lawyers and a former E.U. Competition Commissioner.
Read MoreDeutsche Post AG’s growth rate appears to have slowed down. Company chairman Mr Klaus Zumwinkel said in an interview with the German paper ‘Welt am Sonntag’ (20.1.2002) that he expected profits for the financial year 2001 to grow by 5% if the turnover growth remains continuous (2000 turnover: 32.7bn euros, profits: 1.527bn euros).
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