Pushing The Envelope At Germany's Post Office

Deutsche Post is bucking the odds with a $9 billion IPO

Klaus Zumwinkel, the low-key CEO of Deutsche Post World Net, is pretty relaxed for a guy getting ready to go public with up to $9 billion worth of stock. And this is no run-of-the-mill initial public offering: The 500-year-old German national post office is one of the best-known institutions in the country, and many Germans fear service will be sacrificed for profit. Meanwhile, rivals are complaining loudly that Zumwinkel is using monopoly profits to finance an aggressive expansion. There's even a nasty investigation.

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