Deutsche Post World Net AG has not changed its plans to sell up to 50 pct minus one share in Postbank AG’s IPO, a Deutsche Post spokesman said.
But he declined to comment on Handelsblatt’s report that the volume of Postbank’s IPO has been reduced to 1.5-2.0 bln Eur from an estimated 2.5-3.0 bln Eur.
Read MorePostbank, the banking arm of German postal group Deutsche Post AG (DPWGn.DE), said on Friday it would close bank counters in 1,200 rural post offices by July 1 to save costs. A spokesman for the bank said the number of Deutsche Post outlets offering retail banking would be cut to 11,500 from 12,700 because 75 percent of clients in those branches had used banking services only once a year on average.
Read MoreDeutsche Post has conducted due diligence of ING Group’s German banking unit as speculation grows that the Dutch financial services company is seeking to sell the business.
Postbank, the German postal company’s own financial unit, examined the BHF business several weeks ago, according to people close to the company. However, it was said to be “surprised” at BHF’s rising exposure to bad corporate loans.
Read MoreDeutsche Post World Net AG’s profits derived from its monopoly on stamps may be more than 25 pct of sales and are so high it even subsidizes some activities of its Postbank unit, according to Martin Hellwig, chairman of the independent Monopoly Commission.
In his written comments published in Berliner Zeitung, Hellwig said the postal regulatory agency RegTP’s decision forcing Deutsche Post to cut stamps prices by an average of 4.7 pct next year do not justify plans by the company to cut 10,000 jobs and close down some postal branches.
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