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Rösler plans to sell off state-owned firms

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Rösler plans to sell off state-owned firms
Photo: DPA
13:17 CET+01:00
Economy Minister Philipp Rösler is planning a sell-off of state-owned companies such as Deutsche Telekom and Deutsche Bahn, according to a position paper from his ministry.

"The state must pull out of commercial companies and financial institutes," Rösler says in the paper which has been seen by Die Welt newspaper.

The aim is to pump billions into the federal budget, the paper said. Immediate measures could include the calling up of an expert commission to work out concrete suggestions of how to raise money.

The balancing of the federal budget has been planned for 2016, but this could be reached earlier if the government sells its shares in a number of commercial ventures.

A payment of profit dividends from the KfW state-owned investment bank would also help to boost federal budget figures - and contribute to fairness within the banking sector, the minister also suggested.

The federal state owns 14.8 percent of Deutsche Telekom, which is worth €1.67 billion, while its 16.9 percent of the KfW is worth €1.8 billion, Die Welt said.

The state is 100-percent owner of Deutsche Bahn, which has been valued at €2 billion. It also owns significant shares in Deutsche Post and the airports Berlin-Schönefeld, Cologne/Bonn and Munich.

The Local/hc

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