Deutsche Post has reached an agreement with the trade union ver.di on the transfer of its Parcel Germany business from the EXPRESS to the MAIL Division. In future, both business lines will be within the remit of the member of the Group’s Board of Management with responsibility for MAIL. This step will enable the company to optimize internal processes and further improve the quality of service. It will not affect document and express shipments, which remain part of the EXPRESS Division. The large size of the shared customer base and the numerous synergies between the mail and parcel businesses in Germany formed the background to the decision. Here, the Group sees the potential for additional improvements in quality and significant cost benefits. Elements common to the businesses include the extensive joint delivery service outside city centers and shared points of sale in the form of the retail outlets. The decision still requires the approval of the respective bodies at Deutsche Post World Net. The company plans to start implementing the agreement as early as January 2007.
As of January 8, 2007, 99.58% – almost the entire exchangeable bond on Deutsche Post AG stock issued by KfW in December 2003 – had been converted. The bond was issued in the amount of €1.15 billion and with a maturity date of January 8, 2007. The exchange placed approximately 55.8 million of KfW’s shares onto the market. The conversion price per share was €20.54, representing a premium of 30% over the share price at the issue date in 2003. The transaction reduces the number of Deutsche Post AG shares held by KfW by 4.64%, from approximately 424 million shares to approximately 368.3 million shares at the present time. This figure equates to around 30.6% of Deutsche Post AG’s share capital. The transaction also increased the percentage of shares held privately from around 64.7% to around 69.4%.