European Union regulators have extended for three years anti-trust approval for a pioneering rail freight joint venture between Maersk Sealand and P&O Nedlloyd, saying it had broken the monopoly of state-owned railways for the transport of containers between north European ports and inland cargo terminals.
Read MoreDeutsche Post World Net AG said it wants to strongly hike its US market share from the present level of 5 pct in the next three years and is interested in acquiring medium sized companies there.
Speaking in an interview with Boersen-Zeitung, chief financial officer Edgar Ernst said Deutsche Post is not interested in building up a full network in the US, similar to that of UPS.
HDI, the German insurance group, has announced a co-operation agreement with the postal service in Hungary, Magyar Posta, under which it has set up a non-life insurance company.
Read MoreStinnes Annual Report 2001
Read MoreThe German government on Wednesday proposed trimming its profitable postal service’s letter monopoly in response to a European Union ruling but Deutsche Post will still carry most of the mail.
Deutsche Post, which also has express mail and financial-services businesses, enjoys a legal monopoly on delivering letters up to 200 grams for at least 50 U.S. cents. The proposal would narrow the monopoly to letters weighing 100 grams or less at the beginning of next year and to 50 grams or less in 2006, under an EU plan to permit more postal market competition.
Read More
Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.
