AUSTRIA: ALLIANZ EYEING POSTSPARKASSE
Article Abstract:
The Austrian government has passed a bill that involves an up to 100% privatisation of the post office savings bank Oesterreichische Postsparkasse (P.S.K.). A privatisation memorandum being drawn up with the investment bank Warburg is to be sent to about 50 Austrian and foreign finance institutes. P.S.K. director Karl Stoss estimates that there will be between 5 and 9 bidders.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: P.S.K. PRIVATISATION WITHOUT POST
Article Abstract:
The supervisory board of Osterreichische Post has decided that "due to cost reasons" the Austrian Post will not participate in the privatisation of the post office savings bank Oesterreichische Postsparkasse (P.S.K.), thus complying with the wish of the new government. According to earlier plans, a 25% plus one share in P.S.K. was to be reserved for the Post. According to Johannes Ditz, director of state industry holding OIAG, P.S.K. will be sold to the highest bidder. Among Austrian banks, Bawag, Raiffeisen and Volksbank have indicated that they are interested in taking a stake in P.S.K. Also Bank Austria is believed to be interested, although it has rejected such reports. Reportedly Deutsche Post AG of Germany is interested in P.S.K. If it bought into P.S.K., a competitor of Austrian Post would get access to the post offices, which virtually serve as branches of the P.S.K.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: GENERALI EYEING POSTSPARKASSE?
Article Abstract:
The insurance company Generali would not comment on rumours according to which it is planning to bid for the Austrian post office savings bank Oesterreichische Postsparkasse (P.S.K.), which is to be privatised. Life assurance is forecast to be the most dynamic segment of the insurance market in the next few years. Already more than 50% of life insurance policies in Austria are sold through banks, and Generali could benefit from the Postbank's distribution network of 2,300 post offices. Currently Generali's bank partners are
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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