Deutsche Post to sell Trans-o-Flex stake after ruling
Deutsche Post AG plans to sell its 24.8 percent stake in the Trans-o-flex Schnell Lieferdienst GmbH parcel sorting company after a German court blocked the purchase on antitrust concerns. Deutsche Post bought the Trans-o-flex holding in July 1997 and four years later asked Germany’s Cartel Office for permission to buy the remainder from Bayerische Landesbank. Deutsche Post went to court after regulators rejected the proposal in 2001. Germany’s Federal Court of Justice in Karlsruhe in a ruling today confirmed a lower court decision blocking the takeover. “After the decision of the Federal Court of Justice, the company will continue with its good cooperation with trans-o- flex,” Bonn-based Deutsche Post said in a faxed statement today. “The extent of the cooperation will be decided on a case-by-case basis.”
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