HUNGARIAN POST COMPANY PRIVATIZED?

If the Hungarian Post Company sells its banking profile, the company itself and 44 thousand jobs may be liquidated, said István Kalmár, former president and director general of the company, adding that the company cannot be maintained by the basic service of handling letters and parcels.

There are talks between the leaders of the company and those of the Austrian Erste Bank to sell the banking service of the company. István Kalmár says this is the equivalent of the privatization of Hungarian Post Company. This had been suggested before the change of government in 2002 by Lajos Bokros, ex-Minister of Finance. After 2002 the bank of the Post Company (Postabank) was sold, now they want a complete privatiztation.

Translated by Péter Szentmihályi Szabó