DX Services PLC said its newly appointed chief executive Paul Kehoe has bought 5,000 ordinary shares in the British mail delivery company at 323.50 pence each, and now holds 11,500 shares, or 0.014 pct of the issued capital. Kehoe was appointed DX Services chief executive last month.
Read MoreTNT NV said it intends to start a strategic alliance with Germany’s Hermes on the distribution of parcels and other mail. The combining of distribution operations on the German market is slated to start in the first quarter of next year. The deal does not involve any exchange of finances, a TNT spokesman said.
Later, TNT and Hermes might start what the spokesman called a ‘joint production operation’, which – at a later stage – might also be expanded to the French and English distribution markets, where Hermes and TNT are also active.
Austrian postal company Oesterreichische Post AG has concluded a cooperation agreement with German freight company trans-o-flex for the delivery of business shipments within Austria and those eastern European countries where Post AG is represented, the company said on December 12, 2005. Under the terms of the agreement Post AG will handle all shipments between business customers under the market name “EURODIS”, starting January 1, 2006. tran-o-flex, in its turn, will deliver all Post AG shipments in Germany.
Read MoreState-owned Hungarian postal company Magyar Posta expects to end 2005 with operating profit of HUF 7bn on revenue of HUF 157bn, business daily Napi Gazdasag reported on Monday. Deliveries of letters generated 60pc of revenue, and package delivery accounted for 5pc. The rest of revenue came from charges for financial services, newspaper deliveries and international transactions, Magyar Posta spokesman Tamas Tomecsko told Napi Gazdasag.
Read MoreThe 200,000 workers at Royal Mail will each receive one share worth up to Pounds 2,500 if the government-owned body is part-privatised. Allan Leighton, Royal Mail’s chairman, is pressing the Department of Trade and Industry to support a plan to give 20% of the group’s shares to staff. This stake would be worth Pounds 400m – 500m and put an effective value on Royal Mail of almost Pounds 2.5 billion. The share sale is part of a complex Pounds 2 billion fundraising that Leighton is pursuing. The proceeds will be used to reduce the size of the group’s huge pension deficit, which has swollen to Pounds 4.2 billion, and to fund investment – particularly for automated equipment. Royal Mail has retained Morgan Stanley, the investment bank, to advise on the fundraising, and a document will be sent to the government in the next six weeks.
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