The state-owned Italian postal service is looking towards a bourse listing, but not in the short term, Communications Minister Maurizio Gasparri said on Monday. The post office has set its sites on an initial public share offer as it has succeded in narrowing a 1.4 billion euro ($1.23 billion) 1997 loss to about 100 million euros last year amid an effort to modernise its offices and offer more sophisticated banking services.
Read MoreDeutsche Post AG, the German postal service operator, is embroiled in an argument with its staff over working hours. The trade union, Verdi, has cancelled a special ruling which says that daily working hours are no longer stipulated. It is believed that the argument centres around overtime payment, with the union claiming that employees should be paid for every minute extra they work.
Read MoreDozens of postal workers’ representatives demonstrated on Tuesday against a planned splitting up of the Post Office into five separate companies. There was meanwhile a top-level meeting of union officials. The demonstrators, mostly wearing suits and ties, and filing in an orderly procession, warned of the possibility of strikes.
Read MoreEuropean Commissioners are to clear Italian aid of nearly 9 bln eur to Posta Italiana this afternoon, as well as 13 mln eur to the Irish post office, competition spokesman Michael Tscherny said.
The decisions are expected to be taken without debate, he said.
One week before the Barcelona summit, leading industry associations from Germany and France have come together to call on the governments of their two nations to abandon their reluctance to reform and take the lead in pushing forward the flagging liberalization process within the European Union.
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