DPSGY Deutsche Post AG (PK)

By Kirsten Bienk

FRANKFURT--Deutsche Post AG (DPW.XE) and German labor union ver.di reached an agreement on wages Friday, heading off the threat of a wider strike after limited walkouts disrupted mail and parcel deliveries in recent days.

The two sides said they will disclose details of the agreement once the union's bargaining commission approves the agreement. The panel is set to meet later today.

Several thousand employees of the German logistics and postal company took part in walkouts in recent days. Deutsche Post employs 132,000 in Germany.

The union was seeking a 6% pay hike and improvements for 43,000 other staff.

Write to Kirsten Bienk at kirsten.bienk@dowjones.com

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