Israel Post has struggled as the market for letter sending shrinks. Picture: 123RF/CHRISTIANCHAN
Communications minister Yoaz Hendel said 40% of Israel Post Co would be sold in an initial public offering on the stock exchange and the rest of the state’s shares disposed of through a private sale, IPO or combination of both.After years of poor performance, Israel Post has been carrying out a major reorganisation, including changing its array of delivery centres and reducing its workforce.
“The letter market is fading while the package market is growing,” he said. “It is time for the postal service to undergo a change.”
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