Israel to sell off 40 percent of its postal service
Israel plans to sell off 40 percent of its state-owned national postal service by bringing in a private investor and then listing shares on the Tel Aviv Stock Exchange, the Finance Ministry said on Monday.
A ministerial committee approved the sale of 20 percent of the Israel Post Co to a strategic investor in Israel or abroad. In a second stage, two years later, it will offer 20 percent of the company to the public, with shares to be traded in Tel Aviv, the ministry said in a statement.
After years of poor performance, Israel Post has been carrying out a major reorganisation, including changing its array of delivery centers and reducing its work force.
