Deutsche Bahn AG said bids submitted after the deadline by private equity fund CVC Capital Partners Plc. remain “inferior” to the winner’s offer, the latest twist in the €14.3 billion ($16 billion) battle for its logistics unit.

On Wednesday, 2nd October, the Deutsche Bahn (DB) supervisory board is expected to vote on the proposed sale of its logistics subsidiary, DB Schenker, to Danish competitor DSV. However, the sale is facing resistance from the railway and transport union EVG, potentially jeopardising the transaction.

Deutsche Bahn workers union seeks to block the sale of DB Schenker to DSV A/S, citing concerns over job cuts and impact on business environment in Germany.

A Deutsche Bahn AG labor union will try to block the agreed €14.3 billion ($16 billion) sale of subsidiary DB Schenker to Danish freight firm DSV A/S, Frankfurter Allgemeine Zeitung reported.

Financial investor CVC is urging German state railway conglomerate Deutsche Bahn to reconsider its $16-billion sale of logistics arm Schenker to Denmark's DSV, a letter seen by Reuters showed on Wednesday,

BERLIN: A Deutsche Bahn AG labour union will try to block the agreed €14.3bil (US$16bil) sale of subsidiary DB Schenker to Danish freight firm DSV A/S, Frankfurter Allgemeine Zeitung reported.