New legislation on the postal sector in France, which, by 1 January 2006, will authorize the state postal service operator La Poste to create an establishment and will also open the postal sector to competition, has been promulgated in a state legal publication.
Read MoreFrance’s state-owned postal operator La Poste aims to launch an extended range of retail banking products from January 2006, following the government’s approval of a law that allows La Poste to fully compete with the country’s other retail banks. ‘The launch date we are counting on today is Jan 1, 2006,’ said Patrick Werner, assistant managing director and head of financial services at La Poste, at a press conference. Last week, Parliament adopted a law that allows La Poste to begin offering home and consumer credit loans alongside its current and savings account operations.
Read MorePresentation at WME Europe05 by Jean-Paul Bailly, Chairman and CEO La Poste.
Turnover figures for largest pos
Value of European mail market and market share
P:LibraryWME Europe 05 presentationsJean_Paul_Bailly.ppt
The French post office la Poste increased sales by 37% in 2004 to EUR 18.7 billion.
Read MoreThe French Parliament have adopted a law to deregulate postal services, opening up La Poste to increased competition, while also enabling the network to offer new financial services.
The vote allows France to finally meet its obligations under EU directives on postal deregulation which were supposed to have been fulfilled by 2002.
The EU has since made adherence to that directive, as well as others related to the energy and transportation sectors, a condition for approval of the state-rescue-plan for troubled engineering group Alstom SA.
Since initial deregulation in Jan 2003, La Poste has held a monopoly on mail services below 100 grammes or three times the basic stamp price, currently at 0.53 eur.
Following application of the new law, this will be lowered to 50 grammes and 2.5 times the basic stamp price.
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