Tag: Germany

KFW sells 15 pct greenshoe option in Deutsche Post at 18.90 eur/share

Posted by | Jun 15, 2005 | |

The state-owned Kreditanstalt fuer Wiederaufbau (KfW) said it has exercised its 15 pct greenshoe option in Deutsche Post AG last night at a price of 18.90 eur per share. It said, including the 16.5 mln greenshoe shares, the shares sold by KfW in the placement that started last Monday totalled 126.5 mln, which is worth about 2.4 bln eur. It said the free float of Deutsche Post is now at 55.3 pct of its basic capital while the KfW’s stake is at 37.4 pct, or 416.3 mln shares.

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Deutsche Post hopes KfW/German govt to place remaining Post shares by end-2007

Posted by | Jun 14, 2005 | |

Deutsche Post AG chief executive Klaus Zumwinkel said he hopes that the German federal government and Kreditanstalt fuer Wiederaufbau (KfW) will have placed their remaining shares in Deutsche Post in the market by the end of 2007, when the company will lose its stamp monopoly. The comments come after KfW said it placed 110 mln shares of Deutsche Post at 18.90 eur each, adding that the value of the placement was 2.079 bln eur, excluding a greenshoe option of up to 15 pct which can be exercised until July 14. Commenting on the placement, Zumwinkel said KfW proved once again that it can carry out the gradual privatisation of the firm ‘in a sensitive … manner’.

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German mail carrier Deutsche Post says banking unit not for sale

Posted by | Jun 14, 2005 | |

The mail carrier Deutsche Post, which is now in majority private control, said Tuesday its wholly owned banking unit, Postbank, which has the biggest customer base of any German bank, was not for sale.

Amid speculation that banking mergers are afoot, Deutsche Bank had earlier hinted fresh interest in acquiring Postbank, one year after premature publicity aborted a takeover bid.

Investment funds worldwide lined up Monday to buy a 110-million-share tranche of Deutsche Post, which started life as the government ministry of posts and was floated nearly five years ago.

KfW, the federal government bank that sold the stake, said 53.8 per cent of Deutsche Post was in private hands after the transaction, and managers Deutsche Bank, Goldman Sachs and UBS had an option to buy a further 16.5 million shares by July 14.

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KfW says Deutsche Post placement was 110 mln shares at 18.90 eur

Posted by | Jun 14, 2005 | |

Kreditanstalt fuer Wiederaufbau (KfW) said a previously announced placement of Deutsche Post AG stock comprised 110 mln shares at 18.90 eur each.

The value of the placement was 2.079 bln eur, excluding a greenshoe option of up to 15 pct which can be exercised until July 14, the state-owned development bank said in a statement issued overnight.

Dealers had yesterday put the bookbuilding range for the transaction at 18.80-19.20 eur.

The placement increases the free float of Deutsche Post shares to about 53.2 pct from 44 pct.

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German Deutsche Post threatens higher postage prices

Posted by | Jun 13, 2005 | |

Deutsche Post, the German national postal services provider, has said that taking away its VAT privilege on letters will lead to higher postage prices. Alois Rhiel and Walter Hirche, the financial ministers for the federal states of Hessen and Lower Saxony, have announced that they would like to see the sales tax exemption of Deutsche Post cancelled as quickly as possible. Deutsche Post is set to lose its monopoly in 2007.

The postal service provider has responded by saying this would mean higher prices for customers, particularly private customers, who are not eligible to claim sales tax back. Mr Rhiel said that there was no reason why Deutsche Post should be awarded privileges over its tax-paying rivals. He also doubted that Deutsche Post could raise postage prices in the long term as that would send more customers to the new postal companies. The finance ministry in Hessen believes the sales tax exemption gives Deutsche Post an advantage of between 300m euros and 400m euros per year.

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