Polish Poczta Polska to be privatised by 2011

Polish state-owned postal company Poczta Polska is to be privatised by 2011, the Government Information Centre (CIR) said on April 11, 2006.

The privatisation will proceed in two phases. In the first Poczta Polska will be fully taken over by the Treasury Ministry which is in charge of the restructuring and the privatisation of the country’s state-run companies. In the second phase the ministry will prepare the privatisation which will include the free allocation of some shares to the employees.

The government will also guarantee Poczta Polska certain subsidies, such as payments for providing a public postal service, and the right to use its brand name.

In mid February Treasury Minister Wojciech Jasinski, a member of the ruling Law and Justice Party (PiS), spoke in favour of merging Poczta Polska, local savings bank Powszechna Kasa Oszczednosci Bank Polski (PKO BP) and the largest domestic insurer Powszechny Zaklad Ubezpieczen SA (PZU). Jasinski’s proposal was rejected by Dutch insurance group Eureko which holds 30.91 pct in PZU.

The Polish Treasury is the majority shareholder in PZU with 55.09 pct and in PKO BP in which it holds 51.59 pct.

(Alternative/original name: Centrum Informacyjne Rzadu, Prawo i Sprawiedliwosc)

www.pulsbiznesu.pl

Source: Pulsbiznesu

Poczta Polska Privatisation to Last Until 2011
European Intelligence Wire 04-11-2006
On Tuesday the council of ministers acquainted itself with the details of the plan to transform the Poczta Polska post office from a public service company into a joint-stock state-owned company, put forward by the transport and construction minister. According to the government information centre (CIR) the process will be realised in two phases. First Poczta will become a state-owned sole proprietorship. The second phase will cover preparations of the company’s privatisation programme, so as to privatise Poczta no later than in 2011. The government wants Poczta to receive some privileges such as the right to get subsidies for providing public postal service or the right to use its brand name. It is worth remembering that in mid-February the treasury minister Wojciech Jasinski said that he is an adherent of joining PKO BP, Poczta Polska and PZU into one financial group.