Tag: Europe

Deutsche Post may demand repayment of discounts if court approves

Posted by | Jul 19, 2005 | |

Deutsche Post World Net AG said the German Federal Cartel Office has agreed to recognize the logistics giant’s right to demand repayment of enforced discounts if a Duesseldorf appellate court rules in favour of the company. Another option is that the EU Commission or a European Court nullifies the previous Cartel Office decision, the company said. The Cartel Office in February ruled that Deutsche Post is obligated to extend the same quantity discounts to its competitors that it offers to customers. Deutsche Post did implement the discounts, but took the matter to court claiming the ruling is an illegal encroachment on the company’s monopoly and is currently awaiting a ruling.

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French postal bank project delayed

Posted by | Jul 19, 2005 | |

The French post office, La Poste, now intends to apply before the end of the month to the French regulator of credit establishments and investment firms, CECEI, for permission to operate a postal bank. Initially, the application was to have been made by the middle of the month. On the other hand, La Poste has speeded up the process by deciding that it is not legally obliged to wait until the relevant decree appears in the French government gazette, ‘Journal Officiel’, before seeking the CECEI’s approval.

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UK Royal Mail tells Government to keep mandarins out of review

Posted by | Jul 18, 2005 | |

Royal Mail executives are pressing the Government to appoint a senior business figure to head the review into the future of the business. They fear an inquiry led by ministers or civil servants will reduce the prospect of radical changes.
An announcement about the terms of reference and the inquiry team has been delayed by Whitehall in-fighting but Alan Johnson, Trade and Industry Secretary, is anxious to release details before the Commons rises for the summer recess on Thursday. Royal Mail has lost the battle over privatisation although it remains hopeful of persuading ministers to back a “halfway house” solution based on setting aside 20pc of the equity for employees.

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German government to sell further 7.3 pct in both Deutsche Post, Telekom

Posted by | Jul 18, 2005 | |

The German government is continuing to sell off the family silver in an attempt to plug the holes in its public finances and is placing further shares in Deutsche Telekom and Deutsche Post with the state-owned KfW bank, a KfW spokesman said Monday. The spokesman confirmed a newspaper report which said that Berlin was placing stakes of 7.3 percent apiece in the telecommunications giant and the postal authority with the KfW, which the government traditionally uses as a privatisation vehicle. The combined value of the two transactions amounted to just under five billion euros (six billion dollars), the spokesman said.

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Yeo backs UK Royal Mail’s ownership plans

Posted by | Jul 18, 2005 | |

One of the Tory leadership contenders has backed the Royal Mail’s proposals to give its employees a stake in the group’s ownership. The move by Tim Yeo, breaking ranks with official Conservative policy, comes days before a government-commissioned review into the state-owned postal operator’s future.
Gordon Brown, chancellor, and Alan Johnson, trade and industry secretary, are still finalising the terms of reference for the review, which will consider the Royal Mail’s future once the postal services market is opened fully to competition on January 1. The debate between the chancellor, Downing Street and the Department of Trade and Industry concerns the freedom that should be given to the senior business figure who will head the review to recommend ownership changes.

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