Government approves La Poste transformation
French politicians have given the go-ahead to transform La Poste into a limited liability company. Plans have been branded as a privatisation attempt by opposing political parties.
The National Assembly’s decision comes after the Senate rubber-stamped the plans before Christmas.
The change will help La Poste prepare for the opening of the industry to full competition in 2011, and will be implemented on 1 March. It will allow la Poste to request a EUR 2.7bn Euro capital injection from the government and bank Caisse des Depots et Consignations.
Industry minister Christian Estrosi said the plan ensures La Poste cannot be privatised, while allaying fears that the company will remain property of the state.
