Tag: Germany

Deutsche Post plans no large acquisitions – CEO

Posted by | Apr 18, 2006 | |

German postal service group Deutsche Post AG has no plans for large acquisitions in the next two years, but is always in search for ones under 250 mln euro (USD305.9 mln), CEO Klaus Zumwinkel said on April 17, 2006. Deutsche Post is interested in smaller acquisitions in the mail business outside Germany, or deals in Asia, Zumwinkel said. “Asia is the growth market,” he said. “But China is a test case to sustain growth. Personally, I expect a lot from China,” he said

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DHL to spend 24 mln usd on Beijing headquarters for Sinotrans jv express ops

Posted by | Apr 17, 2006 | |

Deutsche Post World Net unit DHL said it will spend about 24 mln usd to set up a flagship headquarters for the express operations of its joint venture with China’s Sinotrans. DHL said in a statement that the investment in the new Beijing headquarters, to open in 2007, will push the commitment it has made to Greater China operations in recent years to over 900 mln usd.

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Germany's Deutsche Post eyes WH Smith's news spin-off

Posted by | Apr 16, 2006 | |

The newspaper distribution arm of WH Smith could face a takeover bid from Germany’s Deutsche Post after the retailer’s chief executive, Kate Swann, announced plans to demerge the business and float it on the stock market, though no timetable was given. WH Smith considered selling its news distribution arm in 2001, when it came close to selling it to a private equity buyer. Deutsche Post considered a bid at that time and City analysts believe it could quickly renew its interest in the business. Private equity firms have also been tipped as potential bidders for the news division. It is one of three newspaper distribution businesses nationally, along with Menzies and Dawson Holdings.

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Management shake-up at German private mail firm

Posted by | Apr 12, 2006 | |

One of the leading private mail competitors to Deutsche Post has announced a top management change. PIN AG, part of the new postal group backed by leading German newspaper groups, has named Axel Stirl as its new managing director following the resignations of the company’s two founders. Bernhard Klapproth and Martina Roitzsch, who founded PIN AG in 1999, have resigned their board positions and are leaving the company. No reason was given for their departure.

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Berlin under pressure to end VAT exemption for Deutsche Post

Posted by | Apr 11, 2006 | |

The German authorities are coming under pressure from the EU Commission to impose VAT on the services of Deutsche Post, the country’s postal service operator and former state monopolist. Until now, most of the company’s services are free of VAT, but Brussels regards the situation as being of disadvantage to competitors on the market, such as the Luxembourg-based service provider PIN Group and the Dutch group TNT, both of which are subject to VAT. The EU taxation commissioner Laszlo Kovacs therefore yesterday introduced infringement proceedings against Germany, and Berlin has two months in which to react to Brussels’ accusations.

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