Tag: Deutsche Post

Agence France Presse has reported that Deutsche Post intends to float its shares in seven European countries. Shares should go on sale November 6 in Austria, Britain, Germany, Italy, the Netherlands, Spain and Switzerland. Weak sales on the French stock exchange in July 1999 and June 2000 from stocks of Deutsche Telekom has prompted Deutsche Post to avoid France.

The British newspaper, the Independent has reported that “Between a quarter and a third of the German postal monopoly is being sold off and retail offers will take place in seven European countries including Germany and the UK. The privatization of Deutsche Post will put further pressure on the UK’s Post Office, already facing increased competition from overseas.

Agence France has reported that “investor interest in the flotation of the German post office, Deutsche Post, has dwindled.” Only eight percent of those polled by market research institute Institut fuer Sozialforsch the proportion of investors who hoped to buy additional Deutsche Post shares after the initial allocation had shrunk to five percent from nine percent.The flotation of Deutsche Post on November 20 was originally expected to be one of the biggest listings in Europe this year.

According to one opinion writer in the Financial Times, “Deutsche Post’s high-spending acquisition spree is designed to turn the German post office into a large global logistics player. It is the talk of the industry, yet the company’s chief executive, Klaus Zumwinkel, unexpectedly concedes that the calibre of his added-value logistics offering might not measure up to the competition.”