La Poste has revealed that its new banking subsidiary Banque Postale will employ around 900 people currently working for the group. Another hundred or so will be drafted from other La Poste subsidiaries and will occupy legal roles. The 900 or so workers coming from La Poste itself will be divided between commercial and management activities. Banque Postale is due to become operational on 1 January 2006.
Read MoreBelgian postal services company De Post/La Poste plans to go public in 2009, it was reported on October 13, 2005.
Danish postal service Post Denmark and UK investment fund CVC Capital Partners will invest 300 mln euro (USD359.7 mln) in De Post/La Poste in exchange for a 50 pct stake minus one share. Thus the Belgian government will continue to be the majority owner of De Post/La Poste.
Under the deal, Post Denmark may sell its stake in De Post/La Poste not earlier than in five years’ time, while CVC Capital can offer its stake a year earlier but only through an IPO. Post Denmark has a pre-emptive right on CVC Capital shares, while the Belgian government has the pre-emptive right on the consortium’s stake, if it is put up for sale in five years’s time.
Read MoreFrench national post office La Poste registered a 550 mln euro (USD663.14 mln) net profit for the first half of 2005, up 43 pct year-on-year, it was reported on October 6, 2005. The operating profit rose to 841 mln euro (USD1.013 bln) from 595 mln euro (USD717.39 mln). The turnover went up by 3.9 pct to 9.817 bln euro (USD11.836 bln) from 9.449 bln euro (USD11.393 bln). Calculated at constant exchange rates and on a like-for-like basis the turnover increased by 3.4 pct year-on-year, the group noted. La Poste’s financial services registered a 1.1 pct year-on-year increase of their net banking income to 2.15 bln euro (USD2.59 bln).
Read MoreClaude Béglé will be joining DHL, the global market leader in express and logistics, after having spent several years successfully building an international network and managing the Geopost International Division. He has been a Board Member of the Geopost group since 1999 and the Chairman of the European DPD organisation. Both Geopost and DPD are subsidiaries of the French La Poste. Béglé, 56, will assume the role of Chief Operating Officer for DHL Express Germany and will also be Managing Director DHL Express Central Europe, responsible for Switzerland, Austria, Czech Republic, Poland, Hungary, Slovenia and Slovakia. In his new position, Claude Béglé will report to Peter E. Kruse, Management Board member of Deutsche Post World Net and CEO of DHL Express Europe.
Read MoreFour French banks – Societe Generale, BNP Paribas, Credit Agricole SA and Groupe Banque Populaire – have written to the French prime minister, Dominique de Villepin, offering to distribute France’s national savings account, Livret A, for a deposit-based commission of only 0.8 per cent. The account, whose deposits are used to fund French social housing projects, is currently available only via the French post office, La Poste, and the French co-operative bank Caisse d’Epargne.
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