Deutsche Bahn Confirms Plan for IPO

Despite poor first quarter results, Deutsche Bahn, Germany's rail operator, plans to go forward with its public offering in 2005, CEO Hartmut Mehdorn said on Thursday. The company announcing operating losses of €82 million (€97 million) after interest in the first three months of the year. At the company's quarterly press conference in Berlin, Mehdorn said Deutsche Bahn made losses of €172 billion after interest in 2003, compared to €282 billion in losses the previous year. Mehdorn said the company was sticking to its aim to have a positive operating result for 2004.