Austrian Government amends Postal Law for IPO

The Austrian government Tuesday evening agreed on amending the country’s postal law, which is necessary for the planned privatization of the state postal service, Oesterreichische Post AG, reported Austrian news agency APA.
The change in the postal law is needed to improve the postal service’s competitiveness in a liberalized market. It is the first step toward privatization and a possible public offering, which is planned for spring 2006.
Only two weeks ago, Austrian state holding agency OIAG, which would be commissioned with the privatization of Austria’s postal service, said the assessment by Goldman Sachs confirms the country’s postal service is fit for privatization and a possible pubic offering.
-By Eva Komarek, Dow Jones Newswires; (+43 1) 513 69 22 11; eva.komarek@ dowjones.com