Germany sells shares in postal company for $2.3 billion to help finance railway improvements

BERLIN (AP) — Germany’s state-owned development bank has sold shares in the company that owns the national postal service for about 2.1 billion euros ($2.3 billion). The sale reduces the government’s stake and raises money to help finance improvements to the country’s rail network. The sale of a 4% stake in DHL Group cuts the state’s holding to 16.5%, though it is still the largest single shareholder. The Finance Ministry said Wednesday that the proceeds are to be used to strengthen the capital of Germany’s main railway operator, the state-owned Deutsche Bahn, to help it upgrade railway infrastructure.