Car-parts makers, especially in the U.S., are having a difficult time right now as there's almost no growth in the automotive market in the U.S. and Western Europe and carmakers are trying to pass on price pressures.
We believe the acquisition will become rather expensive. We assume Deutsche Post has to pay a significant premium. A price of 5 billion euros or more for a 100-percent acquisition is likely.
The fact that the deal now is finally negotiated is good news, as management can now focus on core activities.
