10.01.2005 – 11:56
Holding Arrangement concluded between KfW and German Federal Government
In the context of a further holding arrangement KfW acquired shares of Deutsche Post AG (Post) from the German federal government today. The arrangement covers 12.7 % (approximately 141.7 million shares) of the share capital of Post. As a result KfW will hold a stake of about 48.8 % (approximately 542.8 million shares) in Telekom. The purchase price is EUR 1.7 billion.
As in previous cases KfW acquires the shares at a substantial discount to the current market price. At the same time the federal government will receive any excess proceeds realised when the shares are resold on the market. In November 2003 KfW had bought a stake of about 30.0 % (approximately 334.1 million shares) of the share capital of Post.
For further information:
Nathalie Drücke, Tel.: 0049 (0)69 7431-2098, E-Mail: firstname.lastname@example.org
Original content of: KfW, transmitted by news aktuell