CSOB to pay Ceska posta CZK 17 bn to operate in post offices.
The Czech bank CSOB will pay the country’s postal service operator Ceska posta up to CZK 17 bn to operate Postovni sporitelna outlets at post offices until 2017, reports Euro OnLine citing a “trustworthy” source.
Euro OnLine says the two parties have already signed the contract.
The current contract expires in 2007, but the two companies have agreed the new one will take effect as of January 2006.
The online publication says the new contract differs from the old in that CSOB will not pay a fixed amount to Ceska posta, but will pay for contracted services.
The CSOB payments make up a significant part of Ceska posta’s income.
In 2004, the postal operator posted a profit of CZK 445 mln, down by one third yr/yr.
