Published Date:
10 October 2008
RUMOUR OF THE DAY
THE initial public offering (IPO) of Deutsche Bahn, the German rail operator, could take place next spring, sources said yesterday.
The German government delayed the planned partial privatisation of the rail operator, which had been due to take place on 27 October, due to "extreme turbulence and uncertainty on global financial markets".
Sources said the German government had hoped to raise 4.5 billion (£3.6bn) by floating DB Mobility Logistics, its passenger transport, logistics and service unit.
Concerns about the timing of the IPO had grown amid sharp falls in share markets around the world. Finance minister Peer Steinbrueck said: "As soon as the market permits a successful initial public offering, we're ready to go. The IPO will happen."
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Last Updated:
09 October 2008 8:35 PM
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Source:
The Scotsman
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Location:
Edinburgh
