German railways operator Deutsche Bahn (DB) is unlikely to list on the stock exchange before 2013, according to the group's chief executive, Reuters reported.
Last October, Germany dropped plans to privatise nearly a quarter of the group's transport, logistics and services business amid financial market turmoil.
"There probably won't be a stock market listing before 2013 or 2014," Deutsche Bahn Chief Executive Ruediger Grube told Der Spiegel magazine.
"The listing isn't an end in itself. It should bring in money for investment in further lasting profitable growth," he added. "In any case, Bahn should not be sold below value, nor should any part of it."
Furthermore, DB has ruled itself out of bidding for National Express Group, the troubled UK transport company which is at the centre of a takeover battle.
The state-owned German operator would consider tendering for rail franchises as they come up, but wouldn't seek to buy National Express assets such as its bus operations, the report says, citing Adrian Shooter, chief executive of Chiltern Railways. |
