Tag: Germany

SmartMail Services signs merger agreement with Deutsche Post Global Mail USA

Posted by | May 11, 2004 | |

SmartMail Services®, the leading nationwide expeditor of flat-sized mail and lightweight parcels, has reached an agreement to be acquired by Deutsche Post Global Mail USA (DPGM), a leader in international mail services. The deal extends the existing relationship between the two companies and will offer U.S. direct mailers and merchants a single source for domestic and international shipping needs. “The Deutsche Post Global Mail acquisition is exciting for the company and our customers,” said Jim Martell, CEO of SmartMail Services, “Our relationship with Global Mail started as a partnership, so it is a very natural step that we should join forces to better serve our customers.”

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Deutsche Bank cools on Postbank bid

Posted by | May 10, 2004 | |

Germany’s Deutsche Bank has stepped back from making a takeover offer for state-owned Postbank, despite coming under heavy political pressure to make a stronger commitment to its home market.

Deutsche Bank executives – who met to discuss making a bid for the retail banking arm of Deutsche Post – signalled that the country’s biggest bank would be sticking to its role as a global co-ordinator for the flotation of Postbank.

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Italian Generali looking to buy stake in German Postbank

Posted by | May 10, 2004 | |

Italian insurance group Assicurazioni Generali has expressed interest before the German Ministry of Finance to buy a 25percent stake in German Postbank AG, the banking unit of local logistics and postal services operator Deutsche Post. Other companies interested in the deal are French bank Credit Agricole SA and Deutsche Bank.

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German Postbank expected to go public

Posted by | May 10, 2004 | |

Market experts believe that Deutsche Postbank, the banking subsidiary of German postal service operator Deutsche Post, will go public after all and regard it as unlikely that the flotation will be cancelled. Deutsche Post, which is planning to place up to 50 per cent minus one share in Postbank on 21 June 2004, opposes a sale of its subsidiary to Deutsche Bank, Germany’s largest bank, and is determined to keep a majority stake in the retail bank.

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