Banque Postale, a unit of the French postal service La Poste, is among eight to 10 candidates seeking to acquire Commerzbank asset management unit Caisse Centrale de Reescompte, the daily Les Echos said, without citing sources.
Commerzbank announced plans to sell the unit earlier this month.
Read MoreMeeting demand with supply
Read MoreThe inter-ministerial team for foreign investment is considering whether to support the investment of Deutsche Post. “The company plans to open a centre providing financial services and take on 500 people. It plans to situate it either in Wroclaw, Poznan or Gdansk,” said a high-ranking official. The centre is to offer accounting services. It would not only allow the company to make savings, but also help it to enter the Polish market. It is difficult to tell if the government wants to support this investment. The inter-ministerial team does not grant help to all applicants. Most recently, ABN Amro, which is opening a competence centre in Warsaw employing 590 people, was refused help. According to the Polish Information and Foreign Investment Agency (PAIIZ), by 2010 there are to be 50 similar centres with a staff of 550,000. The more centres are constructed, the less willing the government is to support them
Read MoreThe Post Office has drawn up ambitious plans to quadruple its share of the home and motor insurance market in the next five years.
It aims to take on giants such as Norwich Union and Direct Line to become a top five motor and household insurer.
A subsidiary of Royal Mail, the Post Office is already one of the fastest-growing insurers, having written 500,000 policies since it entered the market two years ago.
It currently insures one in 50 cars in Britain. However, the company is aiming to write 2m policies, equivalent to GBP 1 billion in premium payments, by 2012.
If successful, the Post Office’s market share would increase from about 2% to 8%, propelling it from 15th largest motor and home insurer into the top five.
The British motor and home insurance market is led by Royal Bank of Scotland, which owns Direct Line and Churchill, with about 25% of the market and Norwich Union, with a share of about 19%.
The Post Office’s plans include a partnership deal until 2012 with Budget Group, a privately owned South African company, which produces branded insurance policies.
Read MoreTAT Express Geopost has announced that “XAAP Finances” will take over a part of their shares of TAT Express. According to Geopost they will remain shareholder of at least 30 pct.
Activities with Groupe La Poste will continue as well as TAT Express will keep on having access to the international Geopost Network for at least three years.
XAAP Finances has commited itself to continue the brand and services of TAT Express.
On 10th March 2005 the supervisory board of TAT Express appointed Philippe Cardot as the new Executive Director.
Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.
