Deutsche Post CEO Zumwinkel: a new era has begun
- Majority of Deutsche Post shares in public ownership
- Advantages for the company and investors
- Deutsche Post maintains majority holding in Postbank
Deutsche Post World Net Management Board Chairman Klaus Zumwinkel, on Tuesday welcomed KfW Group's placement of its shares on the market. "This marks the beginning of a new era: five years after the IPO and Deutsche Post is no longer majority owned by the state," said Zumwinkel.With the completion of this latest sale, more than 53.8 percent of all Deutsche Post shares are freely traded. This generates a number of advantages for the company: the weighting in indexes will rise due to the stock's increased liquidity. The investor base will widen, particularly outside of Germany. And the overall perception of the company, especially abroad, will improve.
Zumwinkel said the smooth and very quick transaction is as a significant step towards the full privatization of Deutsche Post. "Once again KfW has demonstrated its ability to implement the expected privatization measures in a sensible manner and without putting pressure on the share price."He also expressed his hopes that the remaining Deutsche Post shares held by KfW and the German government are placed on the market by the time the German mail market is completely liberalized.
Commenting on current remarks regarding the future of Postbank, Zumwinkel clarified: "The majority holding will remain in our hands." Postbank is expanding rapidly in the retail banking market and will continue to grow as a leading player in this market under its own steam.