Arab Today, arab today portugal set to privatise last third of post service
Last Updated : GMT 07:21:54
Arab Today, arab today
Arab Today, arab today

Portugal set to privatise last third of post service

Arab Today, arab today

Arab Today, arab today Portugal set to privatise last third of post service

Manuel Rodrigues
Lisbon - AFP

 The Portuguese government is to sell its remaining one-third stake in the nearly 500-year-old postal service, under conditions laid down under international bailout terms, it said on Thursday.
The government will sell its holding of 31.5 percent in the business which it floated successfully on the stock exchange in December.
The post service was one of several companies which Portugal agreed to privatise under a bailout programme agreed with the International Monetary Fund and European Union in 2011, from which it emerged in May this year.
Junior Finance Minister Manuel Rodrigues said after a cabinet meeting that the privatisation of the postal service had been a success and had given a boost to the stock market.
The sale of the rest of the state's holding would be achieved either via a syndicate of banks or by direct placement with institutional investors, he said.
The date of the sales would depend on the way the stock market evolved.
The flotation of the postal service CTT was the first on the Lisbon stock market since the listing in June 2008, just before the financial crisis occurred, of EDP Renovaveis, the wind energy subsidiary of electricity group EDP.
The privatisation of 70 percent of the post service raised 579 million euros ($788 million) for the state. During the operation, the Treasurybought some shares, raising its interest to 31.5 percent.
The sale followed the privatisation in October of the British postal service, Royal Mail.
Before floating the postal service, the Portuguese government had sold stakes in energy groups EDP and REN, and in airport management company ANA.
Those sales raised 6.4 billion euros for the public finances, exceeding the initial target for the entire privatisation programme which the IMF and EU had set at 5.5 billion euros.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today portugal set to privatise last third of post service Arab Today, arab today portugal set to privatise last third of post service

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today portugal set to privatise last third of post service Arab Today, arab today portugal set to privatise last third of post service

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday