Austrian Post AG part privatisation approved
The Austrian Government gave permission to state-holding and privatisation agency OeIAG on January 12, 2006 to sell up to 49 pct of state-owned postal company Oesterreichische Post AG over the stock exchange.
Chancellor Wolfgang Schuessel called the move a very important step which would lead to an initial public offering (IPO) of Post AG. It is now up to the OeIAG and its IPO advisers to select the exact date.
The government will retain the remaining 51 pct in Post AG and Schuessel said it was not necesssary to anchor this amount in the constitution.
Referring to trade union strike threats to protest the IPO Schuessel said the government had offered additional talks on the issue.
Adapted by AII Data Processing for APA.
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