Tag: Europe

TPG completes repurchase 20.7 million shares from the State of The Netherlands

Posted by | Jan 5, 2005 | |

TPG N.V. announces the completion of the repurchase of 20,7 million ordinary shares by TPG from the State of The Netherlands as announced 29 September 2004. Today the payment and transfer of the second and last tranche of 13.1 million shares took place according to plan for a price of EUR 19.74 per share. The purchase has been made using operational cash flows. TPG intends to cancel the 20.7 million shares repurchased following the Annual General Meeting of Shareholders on 7 April 2005. As a result of the sale of share to TPG as well as the private placement of 57 million ordinary shares on 29 September 2004 by the State – in total representing approximately 16 percent of the outstanding share capital – the holding of the State in TPG is now reduced to approximately 19 percent.

Read More

Postwatch welcomes select committee report on UK Crown Post Offices

Posted by | Jan 5, 2005 | |

Postwatch today welcomed the Trade and Industry Committee’s report ‘Crown Post Offices’. The report examines Post Office Ltd’s review of their Crown – or Directly Managed – post office network. The Committee’s report raised key concerns, including Ddisparities in customer service levels between Crown post offices and franchise post offices, as revealed in research commissioned by
Postwatch and the postal services regulator Postcomm, the need for Post Office Ltd to better communicate the reasons for converting Directly Managed branches to franchise post offices, and the need for the Government to pay a fair price for services that Post Office Ltd undertakes on its behalf.

Read More

Concern at increase in UK Postwatch spending

Posted by | Jan 4, 2005 | |

Royal Mail is understood to be concerned at the rising expenditure at Postwatch, the consumer group. Accounts for Postwatch in the last financial year showed that Pounds 4 million was spent on staff costs; Pounds 1.7 million on council and secretarial expenses; Pounds 430,000 on networking, travel and subsistence; and Pounds 564,000 on office costs. Staff costs have risen from Pounds 2.7 million and the cost of “other administration” has jumped from Pounds 5.5 million to Pounds 6.2 million. Postwatch has also taken out leases of Pounds 1.65 million to cover the cost of IT and property, and has a deficit of Pounds 261,000. Royal Mail provides more than Pounds 10 million funding a year to Postwatch, but relations between the two have become acrimonious.

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



View ResultsHide Results

Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

Subscribe to the Magazine

 

Pin It on Pinterest