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D.Post to decide on US express in May
BONN (WorldACD) - Deutsche Post World Net AG will present its decision on the future of its troubled US express operations in May, according to a Thomson Financial news report quoting new chief executive, Frank Appel, who was speaking during the German mail services company's annual press conference.
Deutsche Post's US express operations have posted unspecified losses since the company entered the market in 2004. It booked a €600 million writedown for the operations during the fourth quarter.
Deutsche Post in January said it is considering several options for the troubled unit.
A pull-out is not an option, as the US market is an integral part of the group's growth strategy, Appel said, according to material distributed ahead of his speech, the report added.
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