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Business

Deutsche Post Mulls US, Asian Acquisitions

Deutsche Post, the semi-privatized German postal service, is interested in acquisitions primarily in the United States and in Asia, board member Frank Appel said in a newspaper interview published Monday. "Fundamentally, it's true that we're looking for acquisitions, primarily in the US and in Asia," Appel told the daily Die Welt. "We're talking about small and mid-sized companies with sales of between 10 million and 150 million euros" ($12-184 million)," said Appel, who is head of Deutsche Post's logistics division. At the same time, Deutsche Post was looking to grow under its own steam in eastern Europe. "We'll build up our own networks in eastern Europe. There are no suitable companies there that we could buy," he said. Appel declined to comment on speculation that Deutsche Post was looking to buy British logistics firm Exel. "The rumor has been around for three years. I don't know who is responsible for fuelling it again and again." Deutsche Post recently received the green light from its shareholders to issue up to 250,000 new shares, the proceeds of which could finance acquisitions.

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