Swiss Die Post to exercise option for stake in Liechtensteinische Post
Switzerland’s postal operator Die Post wants to exercise its option for a 25 pct stake of its Liechtenstein counterpart Liechtensteinische Post AG, the Liechtenstein Press Office said on June 7, 2005.
The Liechtenstein Government has given a green light to the deal and Liechtensteinische Post is to decide on the matter in mid-June. The two postal carriers have agreed not to disclose details on the deal until then.
Liechtensteinische Post did not comment on the price of the deal, but Die Post’s Daniel Mollet said it was a “single-digit sum in millions”.
Liechtensteinische Post was made independent from Die Post after the liberalisation of the postal services market in Switzerland and Liechtenstein’s entry into the European Economic Area (EEA). The Liechtenstein government then granted an option to Die Post for the acquisition of 25 pct of Liechtensteinische Post’s share capital. The capital currently stands at 5.0 mln Swiss francs ($4.0 mln/3.3 mln euro).
