By Adria Calatayud


Deutsche Post shares fell after German state-owned development bank KfW said it would sell shares in the company valued at 2.22 billion euros ($2.39 billion).

At 0830 GMT on Wednesday, Deutsche Post shares traded 4.1% lower at EUR42.69, but remained up nearly 15% over the last three months.

KfW said Tuesday it would start selling 50 million shares in Deutsche Post, reducing its stake in the German logistics major to 16.5% from 20.5%. KfW would remain the largest shareholder in the company after the sale, it said.

Based on Tuesday's closing price of EUR44.41, the stake KfW is selling would be valued at EUR2.22 billion.


Write to Adria Calatayud at adria.calatayud@wsj.com


(END) Dow Jones Newswires

02-07-24 0349ET