The German state-owned KfW-bank sold 110 million shares toinstitutional investors for the price of 18.90 euros each. With the latest sale KfW cutits stake in Deutsche Post from 48.8 percent to 38.9 percent. The government still holds about7 percent of the shares. Deutsche Post World Net Management Board Chairman Klaus Zumwinkel, onTuesday welcomed KfW Group’s placement of its shares on the market. “This marks the beginning of a new era: Five years after the IPO andDeutsche Post is no longer majority owned by the state,” Zumwinkel said.
With the completion of this latest sale, more than 53.8 percent of allDeutsche Post shares are freely traded. According to DPWN this generates a numberof effects for the company: the weighting in indexes will rise due to the stock’s increasedliquidity. The investor base will widen, particularly outside of Germany. And the overallperception of the company, especially abroad, will improve. Zumwinkel said the smooth and veryquick transaction is as a significant step towards the full privatization of Deutsche Post. “Onceagain KfW has demonstrated its ability to implement the expected privatization measures in asensible manner and without putting pressure on the share price.” He also expressed his hopes thatthe remaining Deutsche Post shares held by KfW and the German government are placed on the marketby the time the German mail market is completely liberalized.
Commenting on current remarks regarding the future of Postbank, Zumwinkelclarified: “The majority holding will remain in our hands.” Postbank is expanding rapidly in theretail banking market and will continue to grow as a leading player in this market under its ownsteam.
