Tag: Germany

German Govt to Sell More DPWN Shares in 2003

Posted by | Jun 17, 2002 | |

Finance minister Hans Eichel will sell more Deutsche Post World Net AG and Deutche Telekom AG shares next year in order to reduce new government debt to 15.5 bln eur from 21.1 bln eur, Handelsblatt newspaper reported, citing government sources. The lack of other privatisation candidates means Eichel will have to sell more shares in Post and Telekom, it said, adding that Eichel has calculated he will receive about 6 bln in privatisation proceeds in 2003.

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Deutsche Post denies report it will cut postal charges to avoid EU fine

Posted by | Jun 17, 2002 | |

Deutsche Post World Net AG said a report that it plans to reduce letter postal charges in order to avoid a hefty fine from the EU for alleged malpractice is pure speculation.
The company’s statement follows today’s report in Handelsblatt newspaper that it plans to cut prices gradually over time, thereby foregoing about 572 mln eur in revenue, to avoid an EU fine.

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German Parcel Abandons Acquisition Plans

Posted by | Jun 16, 2002 | |

German Parcel, a unit of British postal service Consignia, and its European holding company General Logistics Systems (GLS) have shelved plans to expand their existing European parcel-delivery network through acquisitions.
German Parcel chief executive Rico Back told Handelsblatt that his company, currently the number four in its sector in Germany, will instead use joint ventures and partnerships as a way of closing the gaps in its existing networks.
The company previously made acquisitions in Italy and Finland. The new strategy will now be implemented not only in Norway, Switzerland and Greece but also in Spain, Back said.

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Deutsche Post Set to Cut Letter Rates to Avoid Subsidy-Repayment Order

Posted by | Jun 16, 2002 | |

Deutsche Post AG plans to cut the rates it charges for letter delivery in several stages, a move from which it expects to lose revenue totaling 572 million euros, in a bid to avoid having to repay subsidies running into hundreds of millions of euros.

The European Union’s Competition Commissioner, Mario Monti, has accused Deutsche Post of using receipts from letter post, over which it has a monopoly, to cross subsidize cut-throat pricing in areas that have been opened up to competition. The European Union Commission is to decide on the matter on Wednesday. It’s expected that it will make its highest ever demand for the repayment of subsidies.

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EU Commission to decide Wednesday on Deutsche Post parcel subsidisation

Posted by | Jun 14, 2002 | |

The EU Commission should decide Wednesday on action to be taken about charges Deutsche Post World Net AG has subsidised its parcels operations through revenues on its monopoly mail business, spokesman for EU competition commissioner Mario Monti said.
Spokesman Michael Tscherny declined to confirm or deny a Financial Times report that the competition services of the Commission recommend upholding the complaint and fining the company over 500 mln eur.
The 20 commissioners should decide on the action to be taken at their weekly meeting Wednesday, he said.

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