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| Version 0 | Version 1 |
|---|---|
| Deutsche Post agrees to buy UK Mail | Deutsche Post agrees to buy UK Mail |
| (35 minutes later) | |
| German postal firm Deutsche Post has agreed a deal to buy UK Mail for £242.7m, which will see it compete with Royal Mail for parcel deliveries. | German postal firm Deutsche Post has agreed a deal to buy UK Mail for £242.7m, which will see it compete with Royal Mail for parcel deliveries. |
| The purchase is part of a European expansion drive by Deutsche Post. | The purchase is part of a European expansion drive by Deutsche Post. |
| "UK Mail is well-run and an established provider of quality delivery services in the UK. It offers a complementary fit with our integrated offering," said Deutsche board member Jurgen Gerdes. | |
| UK Mail directors said it believed the deal was "fair and reasonable". | UK Mail directors said it believed the deal was "fair and reasonable". |
| Under the terms of the deal, UK Mail shareholders will receive 440p a share. | Under the terms of the deal, UK Mail shareholders will receive 440p a share. |
| UK Mail suffered technical problems last year at a new sorting centre which left it having to handle bulky parcels manually. | UK Mail suffered technical problems last year at a new sorting centre which left it having to handle bulky parcels manually. |
| This led to higher costs which reduced its profits. | This led to higher costs which reduced its profits. |
| The parcel delivery company has a network of more than 50 sites across the UK and more than 25,000 customers. |