Tag: Germany

Eichel (German Finance Minister) says KfW Need Not Sell Post & Telekom Shares

Posted by | Sep 8, 2004 | |

The German government can place its remaining stakes in Deutsche Telekom AG and Deutsche Post AG with state-owned bank Kreditanstalt fuer Wiederaufbau without forcing KfW to sell shares, Finance Minister Hans Eichel said. “We can place the shares with KfW and sell on to the market at a time when share-price developments seem appropriate,” Eichel, 62, said in an interview at the German parliament in Berlin. “I am not dependent on selling to the market.” Eichel plans to sell or transfer assets worth 15.4 billion euros (USD18.6 billion) next year to help bring down Germany’s debt, which is above European Union limits. By 2006, the government wants to dispose of its 26 percent stake in Telekom, Europe’s largest phone company, and its 20 percent holding in Deutsche Post, Europe’s biggest postal service.

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Deutsche Poste more cautious regarding performance of DHL in US

Posted by | Sep 7, 2004 | |

Deutsche Post, the German postal services operator, has revealed that the goal for achieving a breakeven for the US activities is dependent on certain conditions. John Fellows, Chairman and CEO of DHL Holdings Inc. explained that reaching breakeven would depend on the economic situation in the US and that achieving the planned growth rates was paramount. DHL is expecting the current financial year to end in a deficit of around 248m Euros in the US.

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Deutsche Post among bidders for 25 percent stake in Post Danmark

Posted by | Sep 7, 2004 | |

Germany’s semi-public entity Deutsche Post is among several bidders for a 25-percent stake in the Danish postal service Post Danmark which is being privatised, a source at the transport ministry said Tuesday. The ministry declined to identify the bidders or the amounts of their offers. But Deutsche Post said Monday that it had submitted a bid. Financial analysts here estimate the value of the 25-percent stake at 1.5 billion kroner (201 million euros, 242 million dollars).

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Deutsche Post reiterates 2004 ebita will rise as much as 13%

Posted by | Sep 6, 2004 | |

Deutsche Post AG, Europe’s largest postal service, reiterated that it expects profit to grow as much as 13 percent as the express division’s earnings rise.
Earnings before interest, taxes and amortization in 2004 will rise by 7.5 percent to 13 percent from the 2.98 billion euros (USD3.59 billion) posted in 2003, Chief Financial Officer Edgar Ernst said in remarks published on the company’s Web site for an investors’ conference at its Bonn headquarters. Deutsche Post on July 30 raised its 2004 earnings forecast after the sale of stock in the Deutsche Postbank banking unit helped boost second-quarter profit 87 percent. The company plans to spend 3.6 billion euros on expansion over the next two years with a goal of becoming the world’s biggest logistics company, and is considering a bid for 25 percent of Denmark’s postal service.

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Deutsche Post makes non-binding offer for 25 pct stake in Post Danmark

Posted by | Sep 6, 2004 | |

Deutsche Post World Net AG has made a non-binding offer for a 25 pct stake in Danish postal service Post Danmark ahead of today’s deadline to table bids, said a company spokesman. The spokesman added Deutsche Post is also interested in a higher stake in Post Danmark if it succeeds in its initial bid, and if it is legally permitted. He declined to say how high the bid was. Deutsche Post chief executive Klaus Zumwinkel said in July he was considering bidding for the stake in Post Danmark, which the Danish parliament has agreed to privatise.

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