European Union regulators recently received two more complaints from United Parcel Services Inc against Deutsche Post World Net AG for the alleged hoarding of state funds and monopoly. The filing urges outgoing antitrust head Mario Monti to launch formal inquiries on Deutsche Post, but EU officials have not begun any official investigations to date.
Read MoreDeutsche Post, the German postal service, is planning to merge three of its subsidiaries, Euro Express, Danzas and DHL. The integration of these subsidiaries forms part of the company’s Star programme, with which the company is aiming to increase its profit to 3.6bn euros by 2005. This corresponds to a rise of 1.4bn euros over a period of three years. The subsidiaries are to be merged to form a new company called Deutsche Post Euro Express Verwaltungs GmbH.
Read MoreDeutsche Post World Net AG said it has set at 28.50 eur/shr the IPO price of its banking arm Postbank AG. A statement late yesterday said the IPO was more than twice subscribed. Postbank shares will be traded from today at Frankfurt’s stock exchange.
Read MoreShares in Postbank, the banking arm of the semi-privatised German postal authority Deutsche Post, debuted on the Frankfurt stock exchange at a price of 29 euros on Wednesday, slightly higher than their issue price of 28.50 euros. Deutsche Post floated 55 million Postbank shares – or around 33 percent of the unit’s share capital – on the stock exchange on Wednesday in the biggest initial public offering (IPO) in Germany in nearly four years.
Read MoreAccording to German government circles, the Federal government plans to sell its shares in Deutsche Post and Deutsche Telekom by the end of 2006. Financial minister Hans Eichel (SPD) has allowed for almost EUR15.5bn of revenue from privatisation; the biggest part of it is to be generated by the sale of Telekom and Deutsche Post shares.
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