Tag: Europe

Poczta Polska to apply for commercialisation as prelude to stock market listing in 2006-2007

Posted by | Jan 11, 2005 | |

Poczta Polska, the state post operator, is to apply to the Treasury within the next few months to be commercialised, before it starts preparations for a stock market listing that could happen in 2006-2007, the company said last week. Poczta, which expects its sales to exceed ZL6 billion this year, is one of Poland’s largest employers with a headcount of over 100,000. This number, said deputy director general Czeslaw Kowalski, is to be reduced through outplacement and early retirement. Poczta also aims to cut its fixed costs by 10-15 percent this year, as well as introduce new products. It will reduce the delivery time for money transfers to same or next day depending on the type of service, against the current delivery time of two days. Poczta delivers some ZL30 billion annually in 250 million transfers. To regain position on the parcel delivery market, where Poczta has lost ground to private operators, the company will introduce a new product, a local parcel.

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Greece to privatize country’s Postal Savings Bank

Posted by | Jan 11, 2005 | |

Greece’s privatization committee has approved a listing of the Greek Postal Savings Bank on the Athens Stock Exchange, the Finance Ministry said late Monday. The committee didn’t specify the timing of the listing nor the size of the stake to be offered. Greece’s center-right New Democracy government, which won elections in March last year, is looking to raise EUR1.5 billion in 2005 from privatizations. The previous socialist government had already slated the Post Savings bank for privatization and had indicated it would sell up to 40% of shares in an initial offering.

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Small fanfare for UK Royal Mail’s drop in B2B price

Posted by | Jan 10, 2005 | |

There was a luke-warm reaction to news that Royal Mail is to reduce its prices for business mailers. The move is part of the postal service’s plan to stave off the growing competition for its huge share of the B2B market. From April this year the cost of a first-class stamp will rise from 28p to 30p. Business mailers will receive a 1p discount on the 30p price if their mail is franked or uses a PPI (Printed Postage Impression) and weighs less than 60g. Discounts range from 3p to 8p for heavier items. “There are some reductions and small increases, which are likely to behave as a balancing act,” said David Robottom, director of postal affairs and industry development at the DMA. “Royal Mail is making its prices relate more to its cost, which we support,” he added. “We welcome any reduction in price, as long as the service improves.”

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KfW buys 12.7 pct Deutsche Post stake from German govt for 1.7 bln eur

Posted by | Jan 10, 2005 | |

The KfW Bankengruppe said it bought a 12.7 pct stake in Deutsche Post World Net AG from the government for 1.7 bln eur. Last Monday, the Frankfurter Allgemeine Zeitung reported that the government would transfer approximately a 12 pct stake in Deutsche Post KfW to KfW for 1.7 bln eur. KfW later confirmed it would receive a 12 pct stake, but did not disclose how much it would pay. The deal increases KfW’s stake in Deutsche Post to about 48.8 pct from 36.5 pct, it added.

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