Bund wants to sell KfW more shares worth billions

Bund wants to sell KfW more shares worth billions

Berlin / Bonn (dpa / lnw) – The federal government wants to sell more shares worth about three billion euros to the state-owned bank KfW this year, according to information from ministry circles. This will be mainly to telecom stocks, the news agency dpa AFX learned on Tuesday from the circles. A speaker of the Federal Ministry of Finance did not want to comment on the timing. In the long term, the federal government will withdraw both from the Telekom and the post office.

 

Picture: Money 

The placement of the shares will happen later this year. An increase in the planned share volume was not excluded in the districts. A placement of postal shares is problematic, as KfW already controls 42.60 percent. If the stake in the Bonn-based logistics group rises to 50 percent, the state-owned KfW would have to consider Swiss Post’s balance sheet.

As a rule, the Federal Government will pass on the share package to KfW at a discount of one third to the current share price. If the federal government would only park additional Telekom shares to the expected extent at KfW, then the volume at the current price level would be around 300 million shares.

The share transactions with the federal government are profitable for KfW. “We have found that the proceeds are well above the cost price,” said a KfW spokeswoman on the recent sale of 200 million T shares to financial investors the day before. However, the costs of the transaction would have to be eliminated. “KfW will not be charged.” The federal government flows from the sale of shares to investors according to their own information no money.

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