Deutsche Post AG has confirmed it is in talks to buy the logistics operations of troubled retail group KarstadtQuelle AG. ‘We have made an offer, but a contract has not been signed yet,’ a Post spokesman said. A Karstadt spokesman also confirmed a deal is in the offing. ‘The negotiations are well advanced,’ he said, but declined to comment on when the deal might go through.
Read MoreThe European Commission said it will rule on the proposed joint venture between Axel Springer AG and Bertelsmann AG’s high-quality printing operations on Dec 23. Last week, the German cartel office told the commission that it wanted to rule on the deal, meaning the commission’s investigation was delayed by two weeks while it assessed the merits of the request. Sources told AFX News at the time that the commission was likely to turn down the request because of the implications for the European market as a whole.
Read MoreDeutsche Post AG has submitted a request to the German cartel office to buy the logistics operations of troubled retail group KarstadtQuelle AG, according to a statement on the cartel office’s website. Deutsche Post submitted its request on Dec 1, the statement said.
Read MoreDeutsche Post World Net AG should pay value-added tax on letters it delivers, just like its privately owned rivals, the state of Hesse’s economy minister Alois Rhiel said.
Rhiel said he will formalise the demand at a meeting of Germany’s state economy ministers in Berlin on Wednesday and Thursday.
He told DPA that fair competition will create jobs and reduce postal fees.
Deutsche Post’s monopoly and its privileged tax position mean that private companies have little chance to compete. Even in areas where competition is theoretically possible, Deutsche Post still controls 88 pct of the market, Rhiel maintained.
Read MoreAccording to reports, German publishing groups Axel Springer and Georg von Holtzbrink signed contracts last week regarding the acquisition of a majority in Pin, a German company that provides postal services. Each of the two publishing companies acquired a stake of 30 per cent in Pin, although the groups hope to later increase their combined stake to 75 per cent. The supervisory board of Springer have yet to approve the deal. In acquiring the stake, the companies are hoping to build up a service to rival that of Deutsche Post, the German postal services operator. The monopoly that this company currently has on the market for the delivery of letters is due to come to an end in 2007.
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