Austrian Government to change Postal Law for privatization, IPO

The Austrian government is planning to change the postal law to enable that Austria’s state postal service, Oesterreichische Post AG, can operate competitively in a liberalized postal market, Carl Ferrari-Brunnenfeld, spokesman of the infrastructure minister said Monday.
“This is a necessary first step to make Austria’s postal service competitive and to enable the privatization or a possible public offering in due course,” Ferrari-Brunnenfeld, told Dow Jones Newswires.
The change of the postal law will be discussed in the cabinet meeting Tuesday, he said.
A possible public offering isn’t planned before spring 2006, he added.
Only last week Austrian state holding agency OIAG, which would be commissioned with the privatization of Austria’s postal service, said the assessment by Goldman Sachs confirms the country’s postal service is fit for privatization and a possible pubic offering.

-By Eva Komarek, Dow Jones Newswires; (+43 1) 513 69 22 11; eva.komarek@dowjones.com

(END) Dow Jones Newswires