Tag: France

EU clears France’s La Poste to transfer financial ops to Banque Postale unit

Posted by | Dec 21, 2005 | |

The European Commission said it has given its go-ahead to the transfer of the banking and financial business of France’s state-owned post office La Poste to Banque Postale, a fully owned subsidiary. ‘The conversion of the financial business of La Poste into a subsidiary is in itself a major step towards greater transparency in the banking sector in France,’ said competition commissioner Neelie Kroes in a statement.

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La Poste to enter China by partnering with Kerry EAS

Posted by | Dec 20, 2005 | |

France’s La Poste is to cut into the Chinese market by forming a partnership with China’s logistics company Kerry EAS. The two parties has clinched an initial agreement, and they will respectively make CNY 100 million investment in creating a joint venture. Besides, they have been in touch since the beginning of the year, and their new company is expected to be launch into operation in 2006.

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EU to approve creation of French postal bank

Posted by | Dec 20, 2005 | |

The European Commission will approve on Wednesday the creation of a new entity which will regroup the banking activities of France’s La Poste, said a source close to the case.

The commission, which has been examining the case for several months, will only give its ‘partial’ approval, the source said, as Brussels can only give a general green light, but leave other issues untouched, such as the ‘Livret A’ savings account distribution monopoly which La Poste has with the Caisses d’Epargne.

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EU to approve creation of French postal bank

Posted by | Dec 17, 2005 | |

The European Commission will approve on Wednesday the creation of a new entity which will regroup the banking activities of France’s La Poste, said a source close to the case. The commission, which has been examining the case for several months, will only give its ‘partial’ approval, the source said, as Brussels can only give a general green light, but leave other issues untouched, such as the ‘Livret A’ savings account distribution monopoly which La Poste has with the Caisses d’Epargne.

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French post office invests EUR147m and selects Bull and Lockheed Martin

Posted by | Dec 13, 2005 | |

The Board of Directors of La Poste has authorized the Mail Directorate to award Bull, in partnership with Lockheed Martin, the contract to deliver the information system that will run its future mail sorting machines.

Through this EUR 147 million contract, La Poste will deploy an information system backed-up with the latest technologies over the 800 machines of the platforms covering the whole country. This deployment is part of the “Cap Qualite Courrier” programme.

Bull’s turnkey solution, developed in partnership with Lockheed Martin, involves providing a unique new automatic address interpretation and computer based mail sorting system. This system is based on optical reading (up to 50,000 letters per hour) of all of the information written on an envelope: address of recipient, information relative to sender, bar-code, date and stamp amount, etc. The first operational phase will begin during the course of 2007.

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