Deutsche Post on Wednesday confirmed it had not made an offer for the UK’s Royal Mail and turned the spotlight on plans to overhaul its own mail delivery business. Frank Appel, chief executive, prepared the ground for a clash with German labour unions as the logistics company races to cut costs. Deutsche Post, which owns DHL as well as Germany’s former monopoly postal service, reported a 42% drop in Q1 underlying earnings.

This entry was posted by Gwen Robinson on Thursday, May 7th, 2009 at 5:02 and is filed under Capital markets, M&A. Tagged with Deutsche Post, Royal Mail. Edit this entry.