Parliament has passed the Postal Services Act, according to which the national postal company Magyar Posta will lose its monopoly by 2009, when the postal market will be fully liberalised. The privatisation of the 100% state-owned Magyar Posta is scheduled for 2005
Read MoreParliament has passed a law on postal services. One of the most important elements of the new law, which will come into force in January, is liberalization, which will be a gradual process. The full opening of the postal services’ market will take place on 1 January 2009. By passing the new law, Hungary has also fulfilled its obligation of legal harmonization with the EU.
Read MoreHungary’s postal service said two insurers that it jointly co-operates with Germany’s HDI Group have seen strong sales so far in their first year of operation, and anticipate further growth in 2004, as new auto and life insurance products make their way into the market.
Read MoreThe Hungarian post Magyar Posta will have a hard time meeting European Union standards, Magyar Posta president Gyorgy Csaki told a meeting organised by the Association of Postal Workers. He said the postal services market will be fully liberalised by 2009 and the company will face substantial costs in the run-up to liberalisation. Calculating the company’s costs is very difficult, although essential to its endeavours, he said.
Read MoreHungarian postal service Magyar Posta has sold the Lenau Reisen travel agency back to its former owner, Magyar Posta information manager Katalin Szasz confirmed for Econews. Ms Szasz declined to give any details of the sale.
Econews has learned that the postal service lost tens of millions of forints on the deal, and was unable to recoup even a quarter of the agency’s purchase price.
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