DHL Eyes Sale of French Parcel Business

[TrueBlueTerrier]

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Unit to lose $90 million in 2009; two French groups seen as likely buyers

Deutsche Post DHL, the global mail and logistics company, is seeking to sell its loss-making French parcel delivery business.

The parcel unit, which employs around 3,500 of DHL's 14,000 strong French payroll, is expected to book an operating loss of around $90 million this year on revenue of $525 million.

Unions, which revealed DHL's plans, said a sale likely will result in 1,000 to 1,500 job losses and could have a negative effect on the German company's other operations in France, including express and freight transport.

Mory Groupe, a leading French logistics company with 7,000 employees and 2008 revenue of $1.35 billion, and Caravelle, a Paris-based private investment group, have emerged as the most likely buyers for the business.

[Wessex]

More of that "they are more efficient than we are in the rest of Europe..." cant wait for DHL or TNT to run the Royal Mail