Tag: Europe

Postbank sale talks close to collapse

Posted by | Aug 19, 2008 | |

Active talks between Deutsche Post and potential buyers of its majority stake in Germany’s biggest retail lender Deutsche Postbank have stalled, casting doubt on wider banking consolidation.

Several sources familiar with the situation told Reuters that no buyer was in sight for Deutsche Post’s stake of 50 percent plus one share, sending the shares to a three-year low.

Another source familiar with the matter said Deutsche Bank, the last remaining potential bidder involved in intensive talks, is no longer interested at this time.

“There are no longer any talks with Deutsche Bank. The price expectations were too far apart,” the source said, adding the price would have to fall dramatically for Deutsche to return to the negotiating table.

“The process has broken down, but is not dead yet,” another person familiar with the matter said.

Postbank, which has nearly 15 million customers, was seen as the biggest prize of a long hoped-for consolidation in the German banking sector, in which German insurer Allianz is also seeking a partner for its embattled Dresdner Bank.

Consolidation looked to be moving forward this year when France’s Credit Mutuel bought Citigroup’s German retail operations.

But analysts say differences of views on sale prices and the valuation of assets and risks on lenders’ books in face of financial market uncertainties may keep sellers and buyers from reaching agreement.

Reuters reported last month that British bank Lloyds TSB was also dropping out of the running for Postbank, which has a market capitalization of 7 billion euros (USD 10.28 billion), down from more than 10 billion just two months ago.

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Postcomm decide on financial relief for industrial action & future of the bulk mail compensation (UK)

Posted by | Aug 19, 2008 | |

Postcomm published decision documents about giving Royal Mail financial relief for industrial action in 2007-08, and potentially also for 2008-09, and set out the future of the bulk mail compensation scheme.

Postcomm has largely accepted Royal Mail’s application for relief from the financial consequences of transformation-related industrial action in 2007-08. This means Royal Mail will forgo GBP 21.6m of allowed revenue (due to the C-factor) because of poor quality of service performance during the year, but bulk mail customers will not receive compensation. If Postcomm had not accepted the application, Royal Mail would have had to pay around GBP 77m in bulk mail compensation to customers and would have forgone around GBP 91m in allowed revenue. If Royal Mail’s application had been accepted in full, Royal Mail would still have forgone GBP 12m because of its poor Postcode Area performance.

Postcomm has agreed, conditionally, to Royal Mail’s request to suspend the Bulk Mail Compensation Scheme and to adjust the C-factor in 2008-09 where quality of service failures are caused by transformation-related strike action. However, Postcomm will consider a wide range of factors in reaching a final decision on relief at the end of the year.

Postcomm has decided to remove the regulated bulk compensation scheme for delay from 1 April 2010. The main reasons for removing Royal Mail’s compensation scheme for delayed bulk mail are:

– In the developing competitive market it is more appropriate to move towards market driven outcomes;
– Removing the scheme will allow customers to negotiate compensation schemes to suit their own needs;
– The current scheme does not necessarily target those customers who have suffered poor performance.

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Postcomm to Amend Postal Operator Licences

Posted by | Aug 19, 2008 | |

With Postwatch soon to be absorbed into a larger multi-consumer watchdog known as the National Consumer Council on 30th September, Postcomm is making adjustments to its paperwork which includes existing postal operator licences.

To prepare for the abolition of Postwatch and the new complaint handling standards, Postcomm needs to make relevant licence modifications to postal operators’ licences to reflect the transfer of functions from Postwatch to the new NCC and the new complaint handling standards.

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CEVA Logistics integrates businesses worldwide

Posted by | Aug 19, 2008 | |

CEVA Logistics, one of the leading supply chain companies in the world, has announced a major restructure. Effective immediately, four Regional Presidents will be responsible for running the integrated businesses in Contract Logistics (CL) and Freight Management (FM). In making the announcement, CEO John Pattullo commented: “We believe this will bring our business even closer to customers and help us meet their growing need for integrated solutions.”

CEVA resulted from the merger of the former TNT Logistics with EGL Eagle Global Logistics in August 2007. The new company originally retained the CL and FM businesses as separate divisions, with the exception of Asia-Pacific, which tested a model integrating the two businesses at country level.

Following a very successful nine-month pilot in that region, the company has now decided to adopt the integrated model globally. As Pattullo explained, “The Asia test has delivered outstanding results. The integrated structure allows for one CEVA ‘face’ to the market, helps us stay very much attuned to customer expectations, and enables the provision of integrated solutions. Put simply, we think this new structure will let us do an even better job of supporting our customers.”

In recognition of its global nature and need for coordinated leadership, Joe Bento retains responsibility for the FM network to ensure cross-regional effectiveness.

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CEVA Logistics integrates businesses worldwide

Posted by | Aug 18, 2008 | |

CEVA Logistics has announced a major restructure. Effective immediately, four Regional Presidents will be responsible for running the integrated businesses in Contract Logistics (CL) and Freight Management (FM).

CEVA resulted from the merger of the former TNT Logistics with EGL Eagle Global Logistics in August 2007. The new company originally retained the CL and FM businesses as separate divisions, with the exception of Asia-Pacific which tested a model integrating the two businesses at country level. Following a very successful nine-month pilot in that region, the Company has now decided to adopt the integrated model globally.

CEVA announced the following appointments at the most senior level:

> Joe Bento, President, Americas and Global FM network
> Vittorio Favati, President, Asia-Pacific
> Bruno Sidler, President, Northern Europe
> Gianfranco Sgro, President, Southern Europe, Middle East & Africa.

In recognition of its global nature and need for coordinated leadership, Joe Bento retains responsibility for the FM network to ensure cross-regional effectiveness.

CEVA has also emphasised the critical significance of its three global sector teams covering the Automotive, Technology, and Consumer/Retail industries. These will shape sector strategy, lead product development, co-ordinate the Company’s Century (Top 100) key accounts, and act as trouble-shooters

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