Austrian national Post takes full control of Romanian private operator Postmaster
The national postal service in Austria, Austrian Post Group, now fully owns
Romanian company Postmaster, after it took over share packages from three individuals. Previously, the Austrian Post owned only a quarter of the firm. The value of the deal was not announced.
The move comes close to the start of the liberalization of the postal services market in Romania, from January 2012, when the Romanian Post will no longer have a monopoly on certain types of postal services.
The Austrian company became a shareholder in Postmaster in October 2011. The local company was set up in 2007. This year it expects a turnover of EUR 11 million, 10 percent more than in 2011.
Austrian Post, which has over 23,000 employees, ended 2011 with a turnover of EUR 2.3 billion. A third of its revenues came from outside its core market Austria.
Date: November 8, 2012
SOURCE: ROMANIA-INSIDER.COM
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