UPDATE 3-Germany's Deutsche Post, union agree wage deal

(Adds details, Verdi comment)

By Matthias Inverardi

DUESSELDORF, Germany, April 30 (Reuters) - German mail and logistics group Deutsche Post (DPWGn.DE) said on Wednesday it had reached a wage deal with union Verdi, averting an all-out strike.

Deutsche Post will increase pay for the 130,000 workers in two steps -- by 4 percent from Nov. 1, 2008 and by a further 3 percent from Dec. 1, 2009.

Under the 26-month deal, employees will receive a one-off payment of 200 euros ($311) and will work 50 minutes more per week.

Verdi, which had demanded a pay rise of 7 percent over 12 months in addition to assurances over working hours and job security, said it had recommended members to accept the deal.

The union had threatened to start an all-out strike from Friday if no deal was reached.

Thousands of Deutsche Post staff around the country have staged warning strikes earlier this month.

At 1519 GMT, Deutsche Post shares were up 0.45 percent, underperforming the broader DAX Index .GDAXI which was up 1.0 percent.

Dubbed a "mega wage year" by Germany's biggest industrial union, 2008 has already delivered the biggest pay increases in 16 years for the public sector and steel workers.

The European Central Bank has been paying close attention to wage negotiations in Europe's largest economy, worried that surging energy and food prices will feed a wage-price spiral. (Writing by Kerstin Gehmlich, editing by Mike Peacock/Elizabeth Fullerton)