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Business

Germany's KfW Buys 6.6% of Deutsche Post

Seven weeks after the sale of billions of shares, the state owned Bank for Reconstruction (KfW), has bought a large share in Deutsche Post. As the Bank communicated on Monday from Frankfurt am Main, they now own 6.6% of the former state-owned concern. This amount should be commensurate with around €1 billion ($1.32 billion). A €150 million cash pile remains at the disposal of the reserve. Shares in Deutsche Post increased on the Frankfurt stock exchange following the announcement.