Tag: Germany

German govt has no schedule yet for Deutsche Telekom, Post stake sale

Posted by | Jun 22, 2005 | |

The German government has not yet decided when to sell its remaining stakes in Deutsche Telekom AG and Deutsche Post World Net AG, sources said. But when the time comes, it will likely transfer its shares to state-owned KfW Bankengruppe, the sources told dpa-AFX news agency. The last such transaction was in January, when KfW bought a 12.7 pct stake in Deutsche Post World Net AG from the government for 1.7 bln eur, raising its total stake to 48.8 pct. Financial Times Deutschland earlier today cited sources as saying Germany’s Finance Minister Hans Eichel plans to sell the government’s remaining stakes in Deutsche Post and Deutsche Telekom to help cover the budget deficit.

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Deutsche Post’s DHL hopes KarstadtQuelle logistics to post profit in 2006

Posted by | Jun 22, 2005 | |

Deutsche Post AG’s head of logistics Frank Appel said the company’s DHL logistics unit expects the logistics operations it acquired from KarstadtQuelle AG to post a ‘significant’ net profit next year, according to German daily Frankfurter Allgemeine Zeitung. The profit will be achieved following ‘internal optimisation’, Appel told the newspaper in an interview. He said that he would be satisfied if the KarstadtQuelle logistics operations would break even this year. Appel also confirmed that DHL is still in talks with KarstadtQuelle over the possible acquisition of the retailer’s Neckermann and Quelle logistics operations. ‘We remain interested in principle. The negotiations are under way,’ he said, although he added that ‘one must not overburden oneself’.

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Deutsche Post faces legal challenge to planned branch closures

Posted by | Jun 21, 2005 | |

Deutsche Post World Net AG is facing a legal challenge from a local government association in the German state of Lower Saxony against planned branch closures, the tabloid daily Bild reported, without sources. The newspaper said the association is pushing for legislation that could prevent the closure of branches in communities of more than 1,000 people. Deutsche Post said last year it plans to close 1,000 branches by the end of this year.

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Deutsche Post to provide postal services only to private clients from 2008

Posted by | Jun 19, 2005 | |

Deutsche Post AG will only provide basic postal services to private clients when markets open up and it loses its monopoly by end-2007, CEO Klaus Zumwinkel said in an interview with Frankfurter Allgemeine Zeitung. ‘We consider providing services to all parts of the country makes sense only for private customers. The big companies do not need that,’ he said. He indicated that the cost of servicing the needs of all private customers throughout the country would require higher prices. ‘But there is still the question of who will bear these costs of providing basic services for private customers…One possibility would be for example financing it through price regulation, which could also exist,’ he said.

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