S&P, the US ratings agency, decided to lower its long term senior debt rating on French post office La Poste from AAA to AA+. It did the same for Efiposte, the subsidiary which manages postal cheque accounts. S&P expert Alexandre de Lestrange believes La Poste has little time to implement the reforms needed prior to the liberalisation of the sector.
Read MoreThe board of directors of La Poste Belgium, after examining the situation of Vicindo, has ordered the realization of a new restructuring plan. The goals of this project aim to clarify and strengthen the position of Vicindo within its market in order to ameliorate its financial situation. At the moment, the company faces a difficult situation as its sector is currently suffering from the effects of general economic climate.
Read MoreGeoPost, part of the French La Poste, has expressed its interest in the Polish courier company Masterlink. “We would like to have a 100% stake,” said GeoPost’s vice-president Claude Begle. Masterlink is active on both the domestic and foreign markets, and is well known for its focus on specialized services.
Read MoreThe contract with the state which accompanies the 2003-2007 business plan of the French post office (La Poste) was approved yesterday evening by the French postal and telecoms services authority (CSSPPT). In its report, the regulator stresses that La Poste should not close any of its post offices until a substitute service has been set up. It also warns that what it calls the recurrent problem of the French post office’s pension scheme must be solved by 2005.
Read MoreOn Thursday the Tours county court annulled the redundancy plan of Tat Express, the parcels subsidiary of French post. The subsidiaty had planned to make 479 jobs redundant and close several branches.
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