Tag: Europe

SNCF may spend another 2 bln to 3 bln euros after Geodis acquisition – chairman

Posted by | Apr 7, 2008 | |

SNCF may spend another 2 billion to 3 billion euros on investments on top of the 600 million it is offering to pay for shares it does not already own in Geodis, Guillaume Pepy, chairman of the state-owned railway operator, told Le Figaro newspaper.

He plans further acquisitions, including an imminent one in Europe, and he is interested in port services to complete the company’s offering, Pepy said in an interview with the daily.

‘In a few days we will announce the acquisition of a continental European rail operator, which will open the door for us to new countries, notably Eastern Europe,’ he said.

The acquisition of Geodis, in which SNCF currently owns 42.37 percent, will make the transport of goods the group’s biggest division in terms of sales, Pepy said.

SNCF-Geodis will be among the world’s top five logistics groups, behind Deutsche Post AG unit DHL, Deutsche Bahn and Kuehne & Nagel International AG, the SNCF chairman said.

The Geodis deal will lift SNCF’s debt to equity ratio from 0.5 to 0.6, which is still only one-third of the level of Deutsche Bahn, and the imminent acquisition will not fundamentally alter those figures, he said.

‘That means we can still envisage profitable investments of 2 billion to 3 billion euros,’ Pepy said.

Shares in Geodis soared 30 percent today after Pepy unveiled that SNCF plans to offer 135 euros per share for the rest of the transport company.

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Deutsche Post CEO says no rush to sell bank -paper

Posted by | Apr 7, 2008 | |

Deutsche Post could take its time on any decision to sell its Deutsche Postbank unit, new Post Chief Executive Frank Appel said in an interview with the Frankfurter Allgemeine Zeitung.

“It’s true, we need clarity. But clarity can also mean not selling for the foreseeable future,” Appel said in comments to be published in the paper’s Tuesday edition.

Deutsche Post last month promised to decide soon about the future of Germany’s biggest retail bank, which is an attractive takeover target for other banks, but Appel said on Monday he was in no hurry.

“I’m not under pressure to act. Postbank’s business is going well and there is no reason to rush and certainly not to sell it below its value,” he said, adding that he was still discussing options.

Deutsche Bank and Commerzbank have signalled they would be interested in buying Postbank, which has about 15 million customers.

Appel also said he was confident of delivering a solution to restructure Deutsche Post’s loss-making DHL Express business in the United States in May as pledged. Turning the unit around and Postbank’s future are seen as Appel’s biggest challenges as CEO.

“We are well on time,” he said.

Appel added that Post did not have to have a partner for the U.S. domestic business, but he said: “Should there be a partner, however, who could improve the solution further, then we could also take them on board at a later date.”

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FedEx Express named “Business Superbrand”

Posted by | Apr 7, 2008 | |

Business Superbrands has named FedEx Express as one of the UK’s top ten business brands in the Business Superbrands 2008 list.

Selected as a Superbrand for its commitment to both its customers and its staff, this achievement is an outstanding reflection of the strength of the FedEx Express brand and its brand values, with the ranking based on quality, reliability and distinction. FedEx Express was chosen following a selection process which included tapping into the views of an independent and voluntary council of experts and over 1500 business professionals, the latter surveyed by research agency YouGov.

As a Business Superbrand, FedEx Express is the only company representing the transportation industry in the top 20, demonstrating the strength of the FedEx brand.

Business Superbrands is a unique initiative from the Superbrands organisation, the global branding arbiters. Business Superbrands is in its eighth year and has become a key barometer on the performance of brands across a wide variety of sectors.

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Royal Mail raises stamp prices (UK)

Posted by | Apr 7, 2008 | |

The price of posting standard first and second class letters has risen.

A first class stamp for smaller items weighing up to 100g now costs 36p, up 2p. The cost of a second class stamp has gone up from 24p to 27p.

Consumer watchdog Postwatch criticised the increases, announced in December, after Royal Mail’s deliveries were hit by last year’s industrial action.

Despite the rises, Royal Mail estimates it will still lose 6p on every stamped letter and parcel it delivers.

Last year, Royal Mail lost GBP 178m on stamped mail.

It has also come under pressure from competitors in the more lucrative business mail market.

Some large companies have switched their business to firms they consider to be either cheaper or more efficient than Royal Mail.

But consumer group Postwatch said Royal Mail should “make greater strides to improve efficiency rather than making its customers pick up the bill for management failure”.

The cost of sending bigger letters has also risen. A large first class letter has gone up from 48p to 52p and a large second class letter up from 40p to 42p.

The cost of sending items by Special Delivery has increased, too. The fastest service has gone up by 95p to GBP 10.30 for items up to 100g.

The “Next Day” Special Delivery service has risen 30p to GBP 4.60.

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