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PARIS - France's postal service is looking at a plan to transform itself into a limited liability company, a move that would clear the way for a possible sale of a stake in the state-owned monopoly.
| FTE | 28.25 |  -1.12 |
La Poste "is currently considering a change of its statutes," spokeswoman Marie-Aude Dubanchet said Monday.
The proposed change from "state enterprise" to a "limited liability company" would resemble the change that France's former telecommunications monopoly France Telecom underwent one year before its shares began trading in 1997 on the Paris stock exchange.
Dubanchet declined to comment on whether a share sale would follow La Poste's change of legal status.
French President Nicolas Sarkozy's chief of staff said in an interview Sunday that the change was necessary for La Poste to raise the capital needed to take on the increased competition that will follow the full liberalization of Europe's postal market in 2011.
"If we do nothing, it will be the German or Dutch post offices that will deliver mail in France," Claude Gueant said on Europe 1 radio.
France's Les Echos newspaper reported Monday that La Poste was considering following up the change in legal status by selling a 20 percent stake for between 2 billion euros and 3 billion euros ($3.1 billion and $4.7 billion).
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