Tag: Europe

Deutsche Post receives clearance from the European Commission for its proposed acquisition of Exel

Posted by | Nov 24, 2005 | |

The Board of Deutsche Post announces that the European Commission today gave unconditional clearance to the proposed acquisition of Exel plc by Deutsche Post under the EC Merger Regulation. Completion of the Offer remains subject to the satisfaction or, if permitted, waiver of the remaining conditions to the Offer set out in the Scheme Document, including, inter alia, the sanction of the Scheme by the Court and the reduction of capital. The hearing of the petition to the Court to sanction the Scheme and to confirm the reduction of capital is expected to take place on 9 December 2005 and 12 December 2005 respectively. It is expected that the last day for dealings in Exel Shares will be 9 December 2005 and that the Scheme will become effective on 13 December 2005.

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Portugal CTT to advance with post bank establishment

Posted by | Nov 24, 2005 | |

Portugal’s post operator CTT-Correios de Portugal plans to advance with the project for the establishment of a post bank in the country with or without the agreement of Portugal’s largest bank Caixa Geral de Depositos (CGD), it was reported on November 24, 2005. An agreement signed with CGD in January 2003 tied CTT with the state bank concerning the establishment of a post bank. CTT’s former board of directors announced at the beginning of 2004 its plans to launch a post bank in collaboration with Portuguese financial group Banif, but Portuguese Government recently renounced the model.

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Stralfors seals pounds 8m purchase of DPS

Posted by | Nov 24, 2005 | |

Transactional printer Stralfors UK has bought DPS Direct Mail in a pounds 8m deal, creating a pounds 28m turnover UK firm.

‘We’ve been looking for a potential acquisition in the UK for a number of years,’ said Stralfors UK managing director Mike Murphy, who will become group managing director. ‘We’ve taken our time to find the perfect fit.’

The deal was signed last Tuesday (15 November), 13 months after Stralfors made initial contact.

DPS in Orpington, Kent will continue to trade under its name but it will be rebranded at some point in the future.

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TNT Bulgarian unit expects 2006 turnover to rise more than 20%

Posted by | Nov 23, 2005 | |

TNT Bulgaria expects its 2006 turnover to rise by more than 20%, exceeding the growth forecast for the current year partly due to expansion of its customer base, a senior TNT Express official said on Wednesday. TNT Bulgaria is to reach a turnover of about 6.0 million euro (USD7.1 million) this year, up 20% from 2004, TNT Express general manager for Eastern Europe, Mike Ogle, told SeeNews in an interview. “Our growth projections [for 2006] are in the excess of 20%,” he said. “We will achieve [the growth] through a combination of two things, we will provide good services to our existing customers, which means they will continue to trade with us, and we will continue to attract new accounts from our competition, and to a certain degree the markets are growing generically anyway,” Ogle added.

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Tory blow to Royal Mail shares plan

Posted by | Nov 23, 2005 | |

Royal Mail’s hopes of giving shares to its employees looked doomed last night after the Conservatives told The Times that they had misgivings over backing the necessary legislation. If the Tories oppose the plans, defeat in the House of Commons appears inevitable because of the huge opposition to the plan from Labour backbenchers. Some 186 Labour MPs have signed an early-day motion opposing any issuance of shares, out of a total of 198 signatures against. Nick Brown, the former minister and ally of the Chancellor, is the latest big name to join the opposition. The number backing the motion is more than half of the parliamentary party and is the majority of those Labour MPs eligible to sign, given that members of the Government and their parliamentary aides are not free to back such motions.

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