The German government is sticking to plans to reduce stakes in major state-owned companies including Deutsche Post and Deutsche Telekom, according to a new report by the finance ministry seen by Handelsblatt.
The report on privatization plans, updated once every two years, will be presented to the German cabinet Wednesday. It says “a reduction or complete divestment of company holdings is under consideration” for Deutsche Telekom, Deutsche Post and other companies where the government has a stake. By contrast, the report confirms it has delayed plans for a partial privatization of state-owned railway Deutsche Bahn.
The government holds a 14.5-percent stake in Deutsche Telekom, while another 17.5 percent is held by the state-owned development bank KfW. The KfW also holds a 20.9-percent stake in Deutsche Post. The KfW itself is 80 percent owned by the federal government and 20 percent by the states.
Read the full story in Wednesday’s Handelsblatt.