TPG sees Dutch govt reducing stake 'at earliest' within 6-12 months

TPG NV chief executive Peter Bakker said he expects the government to reduce its 35 pct stake in TPG at the earliest within the next 6-12 months.

After reducing its stake to around 35 pct in 2001, the government had said it would like to eventually cut the holding to 10 pct.

Bakker said waiting 6-12 months is his advice for the government, but it can decide at its own discretion to sell the stock.

Bakker said the company is in good contact with the government on the matter. TPG has asked the government to consider clarifying its plans for liberalising the postal market further before it divests its stake in TPG. He expects this would lead to more certainty about the company’s prospects, making it easier for the government to successfully sell the shares.

Within a few weeks TPG will present its own ideas on liberalisation to the government, he added.

The new Dutch government has switched responsibility for postal issues from the transport ministry to the economic affairs ministry, the CEO noted. He said he expects little change in the government’s general policy, although noted he has yet to have contact with the new minister.