Argentine government takes control of troubled post office
The Argentinian government has taken control of the country’s troubled post office. Six years after the management of Correo Argentino was privatised, Buenos Aires has cancelled the local Macri group’s 30-year contract and will assume control until it can award a new concession.
Shortly after it was privatised in 1997, Macri stopped paying its concession fee of some US$100m annually, complaining of legal problems in dealing with its 12,000 members of organised labour. In 2001 the post office filed for bankruptcy protection.
