A few days after the Bundestag gave the green lights, on December 14, 2007, to the introduction, on January 1, 2008 of a minimum wage in the postal service, negotiated by the Verdi union and an employers' organization run by the Deutsche Post, the leader of Pin Group, one of the German post's main private competitors, announced his resignation. The future of the group, which employs about 9.000 people, is more insecure than ever. (Ref. 071031)
A few hours after the deputies voted, the German editor Axel Springer AG announced that it no longer wanted to invest into its postal services subsidiary Pin Group and that it wanted to get rid of its 63.7% share, gotten last June for €510 million. The editor of the daily newspapers Bild and Die Welt justified his decision by explaining that this minimum wage would “almost prevent” any competition on the postal services’ market.
Towards bankruptcy. Axel Springer AG’s leader, Mathias Döpfner, had
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