Hellenic Post faces part-privatisation

The Greek government could part-privatise the country’s postal service, Hellenic Post. The decision, which could see 39% of the organisation sold, forms a part of a wider plan to sell off a number of publicly-owned companies to boost government finance.

If pursued, the money raised from the postal service sell-off could go towards the government’s annual EUR 1bn target.

Greece’s finance minister George Papaconstantinou noted the plan would protect public services.

The public sector sell-off forms part of a bail-out plan, devised by the EU and the International Monetary Fund.