Deutsche Post will only able to acquire minor stake in Austria post

The Austrian government has announced that it is planning to sell only a minority stake in Osterreichische Post, the Austrian postal service. This will mean a considerable set-back for Deutsche Post, the German postal service, which had been hoping to acquire Osterreichische Post; OIAG, the Austrian industrial holding company in which all state-owned companies are bundled, had already held talks with Deutsche Post regarding the sale of a 74.9 per cent stake in the Austrian company. However, the Austrian government now says that it intends to maintain a majority stake in the Austrian postal service.

This is said to be due to protests from trade unions and opposition parties. However, Deutsche Post says that it is still interested in acquiring a stake in the Austrian company, as even a minority stake could be of advantage. According to reports, the invitation to tender for the sale of some of the shares in Osterreichische Post could begin in the autumn; a blocking minority of 25 per cent plus one share is to be sold initially.