The French government announced yesterday it will postpone the restructuring of La Poste into alimited company from the original date of January 1 to March 1, 2010, due to delays in
parliamentary review of the draft postal law.The National Assembly voted in favour of the two-month postponement proposed by the rulingUMP party as it started to debate the new postal law. This will change La Poste from a publicenterprise into a state-owned company, enable a €2.7 billion capital increase and also create thelegal conditions for full postal liberalisation in France in 2011.
French industry minister Christian Estrosi told MPs that La Poste faced the two majorchallenges of full market opening and competition from the likes of Deutsche Post and TNT in futurealong with the impact of the internet on mail volumes. “We are already at -10%, and we will be at-50% or even -60% in just three years!” he declared.
After seeing profits drop from €900 million in 2007 to €600 million in 2008, La Poste faces afurther decline this year, the minister stressed. “Some people are even talking of only €300million in profits. Profits could be divided in three in just two years!” he told MPs.
Estrosi reiterated that La Poste would remain a 100% publicly-owned company after the reformand would become “unprivatisable” due to its public service and other legal commitments. The €2.7billion capital increase would be used for modernisation activities such as post office renovationbut was not “a blank cheque”, he stressed. La Poste would have to improve its service such as withlonger post office opening hours.
The minister added that he had already met European competition commissioner Neelie Kroes todiscuss the law and clarify that the capital increase would not be seen as state aid.
Opposition parties have reportedly tabled more than 300 amendments to the law in an effort toslow its passage and are already threatening to appeal to the constitutional court thereafter inorder to delay the implementation of the law. The lower house is expected to vote on the law onJanuary 12.
