BERLIN, Jan. 3 (UPI) -- German bank KFW said Monday it will buy 12 percent of Deutsche Post shares from the German government by next week.
The $2.31 billion deal will increase KFW's shareholding in the German postal system to 48 percent.
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The German government is continuing efforts to privatize the country's postal system, and with the latest transaction, government holding in Deutsche Post will decrease to 8 percent.