European court awards Deutsche Post a repayment of €1 billion

On 1 July 2008 the European Court of First Instance annulled a 2002 decision by the European Commission, which had ordered Deutsche Post to repay €907 million in purported state aid and interest. As a result, on 1 August 2008 the German government repaid the sum of €1.067 billion to Deutsche Post AG. Of this figure, €572 million have been reported under the MAIL Division’s profit from operating activities and €495 million under the Group’s net finance costs/net financial income.

Deutsche Post agrees to sell shares in Postbank to Deutsche Bank

On 12 September 2008, Deutsche Post agreed to sell a minority shareholding of 29.75% in Postbank to Deutsche Bank at a price of €2.79 billion, or €57.25 per share. The transaction is subject to regulatory and antitrust approval as well as that of the German government and is expected to be completed in the first quarter of 2009.