REIMS X or what next?
REIMS X or what next? – A presentation by Georges Goumas
– Director of International Mail ELTA
Tag: Greece
German Parcel, GLS change strategy
Parcel service German Parcel and its European holding General Logistics Systems (GLS) will bet on alliances and joint ventures in order to complete their network. Plans for acquisitions were given up.
Read MoreGreek Post Reports 2001 Profit
Greece’s Post Office (ELTA), currently being sold under the state’s privatisation programme, reported group pretax profit of 16.4 million euros in fiscal year 2001, up from 12.6 million in 2000. The results are not directly comparable with the previous year due to the first time consolidation of ELTA subsidiaries, including its courier service. Turnover reached 389 million euros from 353 million a year earlier, according to statements published in the Greek press on Thursday. Profit after tax and minorities amounted to 16.05 million euros. Greece owns 100 percent of ELTA. France’s La Poste has offered a total of 26 to 28 million euros for a 10 percent stake in ELTA, including a 50 percent stake in ELTA’s courier service. It was the only company to submit a binding offer for ELTA, part of the government’s privatisation programme.
Read MoreFrench La Poste only Greek Post Office bidder; TPG withdraws courier bid
French post office La Poste is the sole remaining bidder for 10 pct of the Greek post office ELTA and 50 pct of its courier unit, after TNT Post Groep NV decided not to bid for the courier stake, said the Greek Ministry of Transport and Communications.
There are plans to float 25 pct of ELTA on the stock exchange shortly.
ELTA had 352.1 mln eur sales in 2001 with profits estimated at 14.6 mln eur, said the ministry.
TPG, La Poste, others lodge bids for 10 pct stake in Greek Post Office
TNT Post Group NV and France’s La Poste are among a number of companies interested in a 10 pct stake to be sold in Greek post office operator, Elta, business daily Les Echos reported, citing the Greek government.
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