Year: 2002

Five offers for ETI

Posted by | Dec 20, 2002 | |

While the Italian Treasury has banked a dividend of €46.9m from Ente Tobacchi Italiani, the procedure for the privatisation of the tobacco group continues. Five preliminary offers have been presented: British American Tobacco together with Swedish Match, Altadis-Equinox, Japan Tobacco Imprenditori Associati and Aurelia. The Dutch group TNT and FIT have withdrawn. The bids are being examined by the Treasury and its advisors Goldman Sachs and Grimaldi Clifford Chance. The data room will be opened in January. ETI posted pre-tax profits for 2002 of €92m, compared with €47m in the previous year. Earnings fell by 18 per cent to €677m, mainly due to new cigarette contracts with Philip Morris which accounts for 40 per cent of ETI production.

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Top postal appointments pave way for liberalisation

Posted by | Dec 20, 2002 | |

Adam Crozier’s appointment as the next chief executive of Royal Mail Group brings the skills of a “moderniser and a marketeer” to the beleaguered mail operator.

The former head of the Football Association will take over from John Roberts, who retired yesterday after 10 years as chief executive and 35 years with the group, which is losing Pounds 1.1m a day.

Alan Jones, whom some had considered the front-runner, is believed to have decided against leaving his post as managing director at express delivery group TNT.

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Pakistan Post to provide free internet facility in Post Offices

Posted by | Dec 20, 2002 | |

Pakistan Post has decided to provide the cheap Internet services to the people in the post offices of all the major cities of the country. Sources told that after the successful provision of Internet service in the General Post Office of the capital and Lahore, Director General Pakistan Post, Maj. Gen. (Retd) Masood-ul-Hasan has decided to provide Internet services in all the post offices of the country located in the major cities. Sources said that in this regard a report has been presented to the federal secretary communication Iftikhar Rasheed, and initial work for initiating the service has been started. Initial work has been started for the provision of Internet services in the central directorate of the Pakistan Post, however, for the final approval the report has been presented to the minister for communication. Sources said, the Internet consumers would be facilitated with the free of cost Internet service to send Eid cards and e-mails to their relatives, however, the other usage of internet like chatting and site visiting, Rs. 15 per hour would be charged.

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Hungarian Postal Service sells travel agency

Posted by | Dec 20, 2002 | |

Hungarian postal service Magyar Posta has sold the Lenau Reisen travel agency back to its former owner, Magyar Posta information manager Katalin Szasz confirmed for Econews. Ms Szasz declined to give any details of the sale.

Econews has learned that the postal service lost tens of millions of forints on the deal, and was unable to recoup even a quarter of the agency’s purchase price.

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Romanian Mail to increase tariffs

Posted by | Dec 20, 2002 | |

Tariffs charged by Romanian Mail for some postal services, domestic and foreign, will be increased as of January the 6th within the limits of 10%-20%, the company informed in a press release.

The measure is aimed at covering losses cased by evolution of ROL/DST, of consumption prices, as well as tariffs of operators on the courier market.

Tariffs for packages up to 100 grams sent through Prioripost service will be increased by ROL 3,000 up to ROL 20,000. In case of ultra post service, the delivery of a package weighing up to 500 grams will be charged ROL 70,000, that is ROL10,000 more than at present.

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De Post/La Poste and Fortis Bank sign new deal that strengthens partnership with The Bank Van De Post/Banque De La Poste

Posted by | Dec 20, 2002 | |

Fortis Bank and De Post / La Poste today signed a complementary agreement confirming their commitment to reinforce their partnership within the banking products sector through their joint venture in BPO. From a juridical point of view, the agreement will be an amendment to the existing contract. Each partner has retained its 50% share. This agreement starts on 1st January 2003 and will run until 2014.

The desire to build on the potential of BPO is an integral part of the strategy of both partners. For Fortis Bank, BPO is an extra channel with a quite different market position from its existing branch network. For De Post / La Poste, banking products represent an important growth opportunity in terms of value creation and optimisation of its post office network.

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Deutsche Post chief urges government to sell its stake by 2007

Posted by | Dec 20, 2002 | |

Deutsche Post chairman Klaus Zumwinkel hopes the German government will sell its remaining shares in the partially privatised postal authority by 2007, the deadline for liberalisation of postal services in Europe, he said in a magazine interview released Friday.

“I hope the state won’t wait too long to cut its stake to zero, even if it still currently holds 68 percent,” Zumwinkel told the weekly magazine Der Spiegel. “Governments always make bad corporate bosses.”

Deutsche Post is scheduled to lose its monopoly in letter delivery in 2007.

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Japan's Postal Mail service to log 38B Yen annual loss

Posted by | Dec 20, 2002 | |

Japan’s state-run postal mail service will incur losses of 37.9 billion yen in the year to March 2003 due to a slump in corporate demand, against the initial estimate of a profit of one billion yen, the government said Friday.

Postal mail revenue in the year is now projected to fall 4.1 pct from the previous year to 1,966.6 billion yen, said the Ministry of Public Management, Home Affairs, Posts and Telecommunications. This is down from the initial estimate of 2,052.3 billion yen.

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