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Article: Deutsche Post's Unique Route: Will the Germans' plan to buy part of Airborne pave the way for foreign ownership?
- Article from:
- Investment Dealers' Digest
- Article date:
- March 31, 2003
CopyrightCOPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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At a time when foreign ownership of U.S. airlines is a sensitive subject, Deutsche Post AG's bid to acquire the ground operations of U.S. shipper Airborne Express Inc. hinges on a novel structure that bypasses rules that limit foreign ownership of U.S. airlines.
If the deal gets approved, and some believe it might, industry sources caution that it may do more than challenge the dominance of United Parcel Service Inc. and FedEx Corp. It could also open the door to foreign carriers that may look to acquire stakes in struggling U.S. airlines.
Deutsche Post, which is controlled by the German government, has eyed the U.S. package delivery business for years ...