BBG: German union prefers CVC as Schenker buyer to save jobs

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BLOOMBERG reports:

Verdi, Germany’s most powerful labor union, is making the unusual move of backing a private equity firm’s bid for Deutsche Bahn’s planned €14 billion ($15.5 billion) sale of its Schenker logistics arm.

After meeting with the two final suitors, Verdi estimated that 5,300 more jobs would be at risk if Deutsche Bahn were to sell the unit to Danish logistics company DSV A/S instead of a consortium around CVC Capital, according to documents seen by Bloomberg News and people familiar ...