Tag: Germany

Deutsche Post will sell its 24.8 pct stake in Transoflex

Posted by | Nov 24, 2004 | |

Deutsche Post World Net AG will sell its 24.8 pct stake in parcel delivery company Transoflex and possible interests could come from US financial investors such as Chase Manhattan and JP Morgan, according to a prerelease of tomorrow’s Die Welt, citing sources. It said Deutsche Post is selling its stake because it anticipates a German appeals court to confirm a lower court ruling that disallowed its 1997 acquisition and its plans to completely takeover the company. The German cartel office in 1997 had initially cleared the acquisition with conditions but then blocked the November 2001 complete takeover. In 2001 it also declared the 1997 partial acquisition as invalid.

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German Regulator OKs 2005 stamp prices

Posted by | Nov 23, 2004 | |

The German telecommunications and postal services regulator RegTP Tuesday said it approved a 0.7% overall cut in 2005 stamp prices proposed by German mail delivery company Deutsche Post World Net AG. The new prices for letter delivery will take effect Jan. 1, 2005, and will be valid until Dec. 31, 2005, RegTP said. Since parts of its business are still without competition, Deutsche Post can’t set its own pricing for letters without regulatory approval.

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German postal workers reject part-time contracts

Posted by | Nov 11, 2004 | |

German postal service provider Deutsche Post has met with resistance from the union Ver.di over plans to introduce part-time only work in its letter delivery division. Deutsche Post, which currently employs more than 65,000 post men and women, says part-time contracts are the only way to reduce costs and make Deutsche Post more competitive before the group loses its current letter delivery monopoly in Germany in 2007. Europe’s largest postal group is contractually bound to guarantee jobs until 31 March 2008, putting redundancies out of the question as a cost-cutting measure.

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TPG acquires remaining 50% stake in unaddressed mail network Höfinger Haushaltswerbung in Germany

Posted by | Nov 11, 2004 | |

TPG NV, through its subsidiary TPG Post Holdings (Deutschland) GmbH in Germany, has acquired the remaining 50% stake in Höfinger Haushaltswerbung GmbH. Höfinger provides services for unaddressed mail in the federal state of Baden-Württemberg in southern Germany. TPG had previously obtained a 50% stake in Höfinger at the end of 2001. In 2003 Höfinger Haushaltswerbung had annual revenues of EUR7.3 million and delivered 215 million leaflets. Acquisition of the company gives TPG Post complete access to a network of 2,500 deliverers that reach approximately one million households in the Stuttgart area. “The takeover of Höfinger allows TPG Post to build further on its coverage and finely-meshed network in the German market for unaddressed mail,” said Harry Koorstra, Group Managing Director of TPG Post. “Expansion of our network is a cornerstone of TPG Post’s strategy to become the second largest postal company in Germany and Europe’s first truly pan-European postal company.”

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