Austria starts postal service privatisation
Europe’s third postal service privatisation sets off today with the 49 per cent sale of Austria’s Osterreichische Post. The deal, worth about Euros 650m (Dollars 833m), is the last significant privatisation by Austria’s centre-right government before general elections in the autumn and follows a string of significant asset sales. The OIAG state holding company yesterday said the deal would be priced at Euros 17-Euros 19 a share. The final level, subject to bookbuilding, will probably be set on May 30, with trading starting the following day. The Austrian Post follows Deutsche Post and TNT of the Netherlands in floating its shares. It will be the world’s fourth quoted postal group, including Singapore.
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