Austrian Post IPO in Spring 2006 unrealistic
The trade unions of Austrian postal company Oesterreichische Post AG (Post) said the announcement of finance minister Karl-Heinz Grasserof April 7, 2005, that Post could launch an IPO in the spring of 2006, was absolutely unrealistic.
The trade union head Gerhard Fritz called Grasser’s statement that the IPO would protect jobs a stupid joke.
According to the unions there has been no successful IPO of a state-owned postal company in Europe. The issue price of German Deutsche Post shares of 25 euro ($32.2) in 2000 has never been reached since, the unions added. The Dutch post office faced a similar development.
