Martin Vial's solution for La Poste
The French post office, La Poste, closed 2001 with net operating losses of 95m euros, mainly as a result of the acquisition of German network DPD. Turnover increased slightly but operating profit dropped. Chairman Martin Vial has explained that these disappointing results are due to a drop in the use of mail caused by the spread of the internet and by the introduction of the 35-hour working week.
Mr Vial believes that his group should be allowed to form partnerships with other groups, but is against its flotation. He thinks that La Poste should be turned into a joint stock company controlled by the government and other partners, operating in some strategic sectors such as parcel delivery and financial services.
