UPS expresses interest in Deutsche Post
24-Aug-2007 : Rumours are rife that UPS and private-equity firm Apax Partners Worldwide may bid for a stake in Deutsche Post.
The operator’s share value rose on the back of the speculation and 2Q results. “Deutsche Post are boosted by the rumor Apax and UPS might bid 28 euros a share for about 30 per cent in the company,” said Thomas Nagel, a trader at Equinet AG in Frankfurt.
2Q profit rose 13 per cent as the DHL express division increased package volumes in Asia and earned more per shipment in the US.
Net income rose to 285 million euros, from 252 million euros, or 21 cents, a year earlier.
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