Berlin - Plans to partly privatize Germany's national railway system went on hold Wednesday, with senior officials suggesting there would be no stock flotation before a general election next September.

A sale of just under one quarter of DB Mobility Logistics, a unit operating passenger and freight trains, had been set for last week, but was called off because of the global financial crisis.

Officials initially hinted the sale might go ahead in the new year, despite criticism from parties on the left. But the political stakes have been raised by public criticism of large bonuses promised to DB chief executive Hartmut Mehdorn and his aides.

Torsten Albig, spokesman for the German Finance Ministry, did not explicitly say there would be no sale in 2009, but instead said the federal government was not expecting any privatization receipts next year.

Asked for comment, Chancellor Angela Merkel's spokesman Ulrich Wilhelm said, "The government definitely does not intend to sell assets below their worth," so it would wait till "a reasonable return can be expected."

Finance Minister Peer Steinbrueck said, "If there is a flotation, there won't be any bonus provision."

Mehdorn is chief executive of both DB Mobility Logistics and its parent, Deutsche Bahn, which is to remain in federal ownership. The parent will retain control of the tracks and stations.

Germany is to hold a federal election on September 27, 2009. (dpa)