A.T.U In Race With German Post

For a number of years there has been little in the way of flotations on the German Stock Exchange, but suddenly there has been a flurry of activity. German Post wants to float its subsidiary Postbank on June 21, but the fast-fit service chain A.T.

U (Auto-Teile-Unger) wants to forestall the Post and get in with its own flotation beforehand, at the beginning of June. The flotation is being handled by Credit Suisse First Boston and HSBC, who expect to raise one billion Euros. UK investment company Doughty Hanson is the majority shareholder and it is not yet known whether it will sell its entire holding or retain a stake in A.

T.U. .