Tag: Deutsche Post

Deutsche Post to postpone launch of free weekly until autumn

Posted by | May 5, 2008 | |

Deutsche Post AG will keep plans to launch a free weekly newspaper on hold until autumn to allay criticism from Germany’s newspaper publishers and from politicians, Financial Times Deutschland reported, citing company sources.

The postal services company is seeking to keep a lower profile after it was criticised for being exempt from Germany’s general sales tax and chief executive Frank Appel is trying to prevent the project from being discussed at the company’s annual general meeting on Tuesday, Financial Times Deutschland said.

Deutsche Post had initially worked on a weekly publication with a focus on news about the Internet, telecommunication and computer, which was slated to be distributed to households for free and generate revenues from advertising.

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Deutsche Post and the services trade union reach agreement

Posted by | Apr 30, 2008 | |

Deutsche Post and the services trade union Ver.di reached an agreement today in their collective-bargaining negotiations for about 130,000 company employees. Both parties agreed on an extended job security pact, a pay increase for workers covered by the collective-bargaining agreement and additional weekly working time.

The Group’s employees covered by the agreement will receive a one-time payment of 200 euros as well as a 4 percent raise that takes effect on Nov. 1, 2008. Ver.di had originally demanded 7 percent. In addition, the workers will receive a 3 percent raise in December 2009. This ensures planning security for more than two years. The working week for workers covered by the agreement will remain at 38.5 hours.

In return, Deutsche Post won an agreement to reduce paid breaks, i.e., employees will work about 50 minutes more each week for the wages set by the bargaining agreement. Ver.di’s original demand for 10 additional days to shorten the total working time – or vacation days – has been dropped.

The working week of Deutsche Post’s civil servants will remain at 38.5 hours – as opposed to rules applying to other federal civil servants. This agreement is still subject to approval by the German finance minister. Paid breaks for this employee group will be reduced as well, meaning that the previously mentioned additional work on top of the 38.5 workweek will take effect.

The agreement, which is still subject to approval by Ver.di’s collective-bargaining commission, will run through June 30, 2010.

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Spree of acquisitions on courier service market in Romania

Posted by | Apr 29, 2008 | |

The Romanian courier services market has seen several acquisitions since the beginning of the year that have introduced major players such as UPS and the French Post Office on the domestic market, while the German Post Office has strengthened its position, and the Austrians remain interested in the market. So what is in store for the courier services industry?

Domestic couriers had announced as early as two years ago that they planned to attract strategic investors or investment funds to further develop some businesses on one of the most dynamic markets in Romania

Still, the first deals were only clinched as late as at the beginning of the year. The spree of acquisitions started with the direct entrance of UPS in Romania, through the acquisition of Trans Courier Service, and continued with the biggest deal sealed so far on this market, the sale of Cargus to DHL.

While the German Post Office provider acquired Cargus to strengthen its presence on the market, the French Post Office in turn took over a company to enter the Romanian market. Thus, the courier service unit GeoPost and Turkey’s Yurtici Kargo took over 80% in Pegasus, in a deal ZF estimates at 6-9m euros.

Domestically, sale announcements also came from TCE Logistica and Curiero. While TCE representatives are preparing to start talks, Curiero has already reached an agreement with Asesoft for a 25 pct stake.

Smaller companies on the market, such as Sprint Courier, Concorde Courier, Alo Courier, Nemo Expres and Roexpres, are also likely to be the target of some acquisitions in the following period considering the large investments required to support growth and remain competitive.

In addition, a rising number of foreign shipping, courier and logistics companies are interested in the domestic market, which includes the Austrian Post Office.

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Deutsche Post up on talk of FedEx interest: traders

Posted by | Apr 28, 2008 | |

Shares in Deutsche Post rose on Monday as traders cited market talk that U.S. package delivery company FedEx Corp was interested in buying a stake in the German mail and logistics group.

“There are rumors that FedEx wants to buy a 14-percent stake in Deutsche Post,” one trader said.

Deutsche Post had no immediate comment.

Deutsche Post shares were up 1.5 percent at 20.40 euro by 6:34 a.m. EDT, while Germany’s top-30 index .GDAXI was up 0.9 percent.

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