La Poste, the French public postal services group, is expected to announce satisfactory results for 2003, despite the industrial action in the spring of the year. The group will reportedly post a group net profit of 202m euros, compared with 34m in 2002.
Read MoreEnlargement will mean significant change for the postal sector in the ten countries entering the EU on 1 May. To appraise the challenges involved, and to describe what some posts are already doing to adapt to the changes, La Poste (France), together with La Poste/De Post (Belgium) and PostEurop staged a two-day seminar for high-level representatives from the post offices of the ten accession countries.
Read MoreFrench banks are redoubling efforts to fight planned legislation that would expand the range of financial services offered by the country’s state-owned postal service. Established banks say La Poste’s 17,000-strong branch network equals the distribution size of France’s top four banks and would severely skew competition.
Read MoreLa Poste, the French state postal service operator, is reported to have been beaten in the race to acquire a stake in SEUR, Spain’s leading express parcel forwarder. JPMorgan Partners and Bridgepoint, the U.S. venture capital funds, will acquire the share package, amounting to a 21.2 per cent stake in the company, from founder Justo Yufera, for a sum estimated by analysts at around 120m euros.
Read MoreDe Post/La Poste of Belgium has sold its 50 per cent stake in postal insurance business to its joint venture partner, AXA. Under an agreement that expires in February 2005, AXA will continue to sell postal insurance products in post offices.
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