Hellenic Post Company Profile
Hellenic Post Company Profile
Read MoreTag: Hellenic Post
Greek govt plans stake sell-offs
Minister of Finance Giorgos Alogoskoufis said the government is planning to sell stakes in Agricultural Bank, Hellenic Telecommunications and Emporiki Bank, following the recent successful placement in lottery operator OPAP. The privatization of Postal Savings Banks will be delayed and is now expected to take place in the first half of 2006. It could involve a 25-30 pct stake, Alogoskoufis said.
Read MoreGreece to privatize country’s Postal Savings Bank
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.
Read MoreIncrease in profitability for Hellenic Post
Hellenic Post 2002 profits have increased from EUR 15.5 million to EUR 19.1 million with turnover up by 13%.
Read MoreEuropean Commission intends to exempt REIMS II from the antitrust rules but requires third party access
Today, the Commission published a notice in the Official Journal inviting third parties to submit their comments on the so-called Agreement for the Remuneration of Mandatory Deliveries of Cross-Border Mails (REIMS II). REIMS II is an agreement on the remuneration that public postal operators (PPOs)° pay each other for the delivery of incoming cross-border mail. This remuneration is also referred to as “terminal dues”. Seventeen PPOs from the European Union and the EEA are parties to the REIMS II agreement. After receiving the comments of interested third parties to be submitted one month after publication of the OJ the Commission will take a final decision on whether the system of terminal dues can be exempted from the antitrust rules. The Commission will also decide on the length of the exemption to be granted.
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