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In 2007, a more diversified Deutsche Post conglomerate than the current DP-DHL, hit revenues of €63.5bn and ebit of €3.2bn; earnings per share (EPS) came in at €1.15, while its workforce stood at about 470,000.

In those days, its stock comfortably traded in the mid-€20s, despite a different asset mix for a company with financial services (Postbank) adding to its logistics, mail and express operations – a corporate structure that did not last long, as it turned out one year later.

Its ...

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