Germany Extends Deutsche Post Monopoly Until 2007

The German government yesterday extended Deutsche Post AG's domestic letter monopoly for five years, according to wire reports.

The deal maintains Deutsche Post's monopoly until 2007. The company's contract with the government expired in 2002.

Germany is waiting for the European Union to establish postal regulations before opening up its market to competition, according to reports.

Germany's domestic mail delivery accounted for 77 percent of Deutsche Post's profits in the first half of last year.

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