Here is a short translation to the relevant article in "Die Welt", one of the leading newspapers in Germany: DPWN and Lufthansa cargo plan to start a common cargo airline based on a 50/50 share deal. Start date is planned for 2009 and the base of the "newco", the present study name, will be Leipzig. The plan is to by or lease 10 freighters, either 777F or 747-400F, the planned CEO is a manager working for Lufthansa right now. The plan is to operate this new company independently from the DHL-airlines in Europe. One reason cited to set up this new company is cost efficiency compared to Lufthansa Cargo and the DHL-Airlines.
This may very well mean they want to undercut the salaries paid to LH-Cargo and DHL-Pilots
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Cheers