State-owned enterprises of Germany

Zwinger is managed by the State Palaces, Castles and Gardens of Saxony

In the wake of the 2007 financial crisis Germany's stock of gross financial assets increased significantly, turning it into the second largest stock among OECD countries after the US.^[1] Yet research has shown that the more that the government owns of an enterprise, the more extreme the level of tax avoidance.^[2]

List

Company	share	direct Owner	Note
Autobahn GmbH des Bundes	full ownership	Germany	Operator of the German express way network.
Deutsche Bahn	full ownership	Germany
DFS Deutsche Flugsicherung GmbH	full ownership	Germany
Hapag Lloyd	23.2%	Hamburg
Airbus/EADS	12%^[3]		28% total with France and Spain
Commerzbank	15,6%	KfW
Volkswagen Group	12.7%	Lower-Saxony	20% of voting rights
KfW Bank	100%		following assets amounting to a worth of $70.6Bn
Deutsche Telekom and T-Mobile	14.5%	Germany	(directly)
Deutsche Telekom and T-Mobile	17.4%	KfW	(indirectly)
Deutsche Post	25.5%	KfW	Assets including DHL and Deutsche Postbank are therefore also partially owned by the government
Hypo Real Estate	100%	SoFFin	Seized by SoFFin in 2009 to restore financial stability to the German housing market
Bundesdruckerei	100%		Federal Print Office, Renationalised in 2013
RAG AG	100%	RAG-Stiftung	RAG-Stiftung is a foundation held by the federal republic and the states of North Rhine-Westphalia and Saarland
Evonik Industries	58,9%^[4]	RAG-Stiftung	RAG-Stiftung is a foundation held by the federal republic and the states of North Rhine-Westphalia and Saarland
Uniper	99%	Germany	Emergency rescue in 2022^[5]

Further government ownerships

a range of competing Landesbanken, regionally organised by the Länder, function predominantly to provide wholesale banking, part of the Sparkassen-Finanzgruppe
the Sparkassen, also part of the Sparkassen-Finanzgruppe with more than 400 German SOEs holding more than 40% of bank assets in Germany^[6]^[7]
Germany owns an approximate 4% stake in British Telecom as 12% of the stake of British Telecom was sold to T-Mobile in early 2015.

Note that many smaller State owned enterprises are owned by individual states of Germany such as TransnetBW and Rothaus (State Brewery of Baden).

On a local and regional level, public transport is often operated by SOE, such as BVB (Berlin), Hochbahn (Hamburg) or LVB (Leipzig). Power generation, water and gas supply were until the 1990s often publicly owned (Stadtwerke) - the picture is much more diverse today, involving often forms of PPP, but with the local governments still exercising considerable control.

References

^ OECD. "710. Financial balance sheets - consolidated - SNA 2008". Retrieved 27 November 2016.
^ Ninow, Leon; Thunecke, Georg; Wagner, Manuel (2021-10-02). "Evidence on Aggressive Tax Avoidance by German State-Owned Enterprises and its Driving Factors". German Politics. 30 (4): 541–561. doi:10.1080/09644008.2020.1814258. ISSN 0964-4008.
^ "Revamped Airbus lives up to the European dream". Telegraph.co.uk. 5 January 2014. Retrieved 12 September 2015.
^ "RAG wird mehr Evonik-Aktien los". boerse.ard.de. 14 January 2020. Retrieved 14 January 2020.
^ "Clear terms for the takeover of the energy company Uniper". Die Bundesregierung. 21 December 2022.
^ Hüfner, Felix, "The German Banking System: Lessons from the Financial Crisis", oecd.org, 1 July 2010.
^ "Working Papers", oecd.org.