IN BRIEF (Page 16)

Offering in pipeline

Deutsche Bahn AG, Germany's state-owned railway, is taking steps to rearrange its structure in preparation for a share sale as early as November, business daily newspaper Handelsblatt reported, with citing anyone.

Deutsche Bahn has drawn up a financial statement for its passenger and freight operations - the segment it wants to put up for sale - and will submit the details to BaFin, Germany's financial-services regulator, according to the newspaper.

Decision 'politicized'

European Aeronautic, Defence & Space Co and Northrop Grumman Corp, the combination that won a $35 billion US Air Force refueling tanker contract in February, criticized the political backlash against the deal, the Financial Times reported.

Ralph Crosby, the US head of EADS's North American division, said the bidding process, in which Boeing Co was unsuccessful, should not be so "politicized", the FT said.

Ghosn may quit a post

Carlos Ghosn, the chief executive officer of both France's Renault SA and Nissan Motor Co of Japan, indicated that he may in due course give up one of the two posts, the Wall Street Journal reported.

Ghosn, 54, who has performed both roles for the past three years, told reporters that the arrangement is unlikely to continue indefinitely, because finding a successor for one company will be hard and finding a successor for two would be "very, very difficult", the newspaper said.

'Satisfactory' performance

Deutsche Post AG, Europe's biggest postal service, said operations met forecasts in the first quarter and that it's making progress in plans to turn around the ailing DHL Express unit in the US.

"Business in the first quarter of 2008 was very satisfactory, with underlying profits making progress year on year and being in line with our targets and guidance," the Bonn-based company said in a statement yesterday.

Government purchase

The New Zealand government has agreed to pay Australia's Toll Holdings Ltd NZ$665 million ($519 million) for its New Zealand rail and sea ferry business, Finance Minister Michael Cullen said yesterday.

The government decided that buying the rail and sea operations from Toll Australia's subsidiary, Toll New Zealand, was the best way to increase investment in the industry, he said.

Further delays

Airbus faces more production delays for its A380 superjumbo jetliner and might not be able to deliver the 25 planes promised in 2009, a press report said yesterday causing shares in parent group EADS to fall.

The business magazine Wirtschafts-Woche cited a letter by Airbus Chief Executive Thomas Enders to customers and company sources.

Contract clinched

Halliburton Co, the world's second-largest oilfield contractor, said it has been awarded a three-year contract by Abu Dhabi Company for Onshore Oil Operations, a unit of Abu Dhabi National Oil Co.

The contract includes provision of completion equipment for onshore oil and gas wells, production packers, subsurface safety valves and subsurface flow controls, Halliburton said in an e-mailed statement yesterday. No value for the contract was given.

Record price

MTN Group Ltd, Africa's largest mobile-phone company, climbed to a record in Johannesburg trading after the Financial Times reported Bharti Airtel Ltd may be planning a bid for the company.

MTN rallied as much as 5.02 rand, or 3.5 percent, to a record 149.52 rand. The stock traded at 149.50 rand as of 11:27 am and was the most heavily traded stock in Johannesburg yesterday.

Agencies

(China Daily 05/06/2008 page16)