Tag: Germany

Deutsche Post, Europe’s biggest postal service, has mandated Deutsche Bank and Morgan Stanley to manage the initial public offering (IPO) of its Deutsche Postbank unit in what would be Germany’s biggest flotation for two years.

The sale could raise at least €2.5bn ($3bn, £1.7bn), according to Deutsche Post, and would be the biggest since Deutsche Borse, Germany’s stock exchange, and Fraport, operator of the Frankfurt airport, sold shares to the public in 2001.

What does $6 billion buy? If you are Klaus Zumwinkel, the visionary management board chairman of Deutsche Post AG, which runs the German post office, it buys you entry into the global express delivery/logistics field at a time when your monopoly profits from Germany’s mail delivery business are coming under increasing pressure from government-driven liberalization and tariff regulation. But a scat at the table is not a license to print money, as Zumwinkel is learning.

Deutsche Post World Net have began exclusive negotiations with Deutsche Bank and Morgan Stanley in regard to a mandate as global co-ordinators for the planned Postbank IPO. The chairmen of the management boards of Deutsche Post and Postbank, Dr Klaus Zumwinkel and Prof. Dr Wulf von Schimmelmann, had announced the institute’s plans for going public on 29 September.