Deutsche Bahn, the German government-owned railway giant, knows all about delays. To the dismay of demanding rail travelers in Germany who expect every train to arrive on time, one-third of long-distance Deutsche Bahn trains are late.
But the latest delay is more than just an inconvenience for Rüdiger Grube, chief executive of Deutsche Bahn: his timetable for the national railway’s recapitalization has been thrown into disarray.
Mr. Grube wants to sell off parts of the company’s subsidiaries Arriva and Schenker. The company hopes to raise some €4.5 billion from the sale of its two assets, Handelsblatt has learned. The trouble is the company’s supervisory board is thwarting Mr. Grube’s ambitions.
The board is supposed to sign off on his finance plan at its February 8 meeting. But it seems unlikely that the proposed sale will go through on schedule.