The French government is considering a partial privatisation of La Poste to raise an estimated €2 –3 billion in what would be a dramatic reversal of long-standing policy in the run-up to full
European postal liberalisation. A stake of about 20% could be floated.Financial newspaper Les Echos reported that La Poste is working on plans to float a 20% staketo raise €2 – 3 billion to finance its expansion plans. This would give the company a valuation ofabout €10 billion, it wrote.
La Poste president Jean-Paul Bailly is due to present a plan to the government shortlyproposing a legal restructuring from an autonomous public sector organisation into a limitedcompany (“société anonyme”) as the first step towards a flotation, it reported.
A senior French official, Claude Gueant, secretary general of the French presidential office,told radio station Europe 1 at the weekend that the idea of transforming La Poste into a limitedcompany “deserved interest”. But he stressed that the French state would retain a clear majorityholding should there be any part-privatisation, and that La Poste would retain its “public service”obligations.
French governments have for many years ruled out any privatisation of La Poste, despite theIPOs of neighbouring Deutsche Post and TNT over the last decade. French unions have always stronglyopposed opening up La Poste to private investors.
