Bulgarian Posts to be split in to five subsidiaries
Bulgaria’s minister of transport and ICT, Alexandar Tsvetkov, has announced that Bulgarian Posts will be restructured and stabilised financially. The changes will help Bulgaria meet its commitments to the European Union for liberalisation of the sector and help give all citizens access to a universal postal service at reasonable prices. Tsvetkov pointed out that the amendments made to the Postal Services Act were aimed at opening up the market to private companies and modernising services.
Bulgarian Posts will be split into five subsidiaries in which the state will keep 51 percent. This will secure fresh capital without the future investors having to own assets, as they will get dividends from the subsidiaries. The scheme will become effective within a month, the transport minister forecast.
To begin with, three subsidiaries will be split from Bulgarian Posts. Hybrid Post will deliver parcels of big corporate customers. Bulpost will provide door-to-door courier services. Info Post will deliver electronic services for individuals and businesses. According to deputy transport minister Pavel Russinov that will raise Bulgarian Posts' market share in the different service segments. Post Trade and Finance Trade, which will be set up later on, will deal with catalogue trade and free-of-charge bill payment.
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