Three European groups interested in Correo

Franco Macri, chairman of SOCMA, the Argentinian holding company
which controls Correo Argentino, the privatised Argentinian post
office, already has groups lining up to become its new shareholder
following the collapse of the merger between Correo Argentino and
OCA, the postal services unit of the Exxel Group. Over the last
month, Macri is understood to have been in talks with at least three
European groups, including Deutsche Post, although any agreement
with the German operator would be subject to resolving conflicts
seen to be strategic and which are linked with the new regulatory
framework for the postal services sector in Argentina, the legal
situation of Correo Argentina and illegal competition in the sector.

Talks between Deutsche and SOCMA are set to resume once the collapse
of the proposed merger between Exxel and SOCMA has been officially
announced. It is understood that both groups blame the restrictive
practises secretary Carlos Winograd for the collapse of the
operation.
Abstracted from Buenos Aires Economico in Spanish.
Copyright 2001 Financial Times Information, Dow Jones, Dialog.
Source: World Reporter (Trade Mark)
BUENOS AIRES ECONOMICO, 09th March 2001