Deutsche Post to acquire majority stake in Williams Lea
Tim Griffiths, chief executive of Williams Lea, commented, "[Deutsche Post's] business is wholly complementary to ours and we are eager to draw on their extensive business experience as a truly global organization. We see considerable potential to leverage Deutsche Post's world class mail and logistics capability in adding more value to Williams Lea's customer proposition." Deutsche will reportedly take a 75% stake in Williams Lea, providing a potential GBP85 million payout for the UK communications group's founders. The transaction is expected to close in March 2006, pending regulatory approval.