Germany’s big brown delivery van contender
When the German postal and package-delivery giant Deutsche Post announced last March that it would buy a smaller American service, Airborne, its timing could not have been worse.
Read MoreTag: Germany
Three German publishing companies form alliance for postal deliveries
Three German publishing companies, Gruner+Jahr, Axel Springer Verlag and Hubert Burda, are considering the possibility of forming an alliance for postal deliveries. The companies wish to award contracts for the delivery of subscription magazines to other logistics companies, rather than to Deutsche Post, in order to reduce costs. The formation of this alliance is expected to lead to a drop in turnover of millions of euros for Deutsche Post.
Read MoreDeutsche Post Postbank Europe benchmark plan
Deutsche Post, the German postal and logistics group, plans to benchmark Postbank against eight European banks to value its financial services arm when it is floated later this year. Postbank is Germany’s biggest retail bank, with 10m customers. The banks selected as a benchmark for the initial public offering – Royal Bank of Scotland, Alliance & Leicester, Unicredito, Banco Popular, Banca Populare, Banco Espirito Santo, Erste Bank and Svenska Handelsbanken – have a strong focus on domestic private client business. The majority of the banks have a far higher return on equity.
Read MoreGerman Deutsche Post AG risks losing business
Deutsche Post AG fell 18 cents, or 0.9 percent, to 18.91 euros. Europe’s largest postal service risks losing business from German publishing houses as Axel Springer AG, Gruner & Jahr AG and Hubert Burda Holding GmbH are in talks about using other deliverers to reduce costs, the daily Handelsblatt said, without saying where it obtained the information.
Read MoreDeutsche Post to slow mailbox reductions in Germany
Deutsche Post AG, Europe’s largest postal service, plans to slow plans to reduce the number of mailboxes in Germany to appease customer criticism, spokesman Manfred Hanischfeger said.
Deutsche Post plans to keep at least 100,000 mailboxes in Germany until 2007, the newspaper reported, without stating the previous reduction target. Deutsche Post had 140,000 mailboxes last year.
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