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Byline: Gerald C. Magpily
The German government found a way to raise needed money to cover its 2003 budget --it sold minority holdings in German companies Deutsche Post AG and Deutsche Telekom AG. The two transactions represented the No. 1 and No.2 international deals of the week.
The German government sold its 30.91% stake in Deutsche Post to Frankfurt-based Kreditanstalt fur Wiederaufbau (KfW) for [Euro]4.35 billion ($5.1 billion). In the No. 2 deal of the week, the German government was able to sell its 4.7% stake in DT for [Euro]2 billion.
"As in earlier custodial arrangements, KfW bought the shares at a significant …