Polish Post gets govt stamp of approval for privatization

"So far this is only a concept. In our opinion this is the easiest way to obtain cheap capital necessary to develop the firm," said one of the analysts who made a presentation to PP's management in Łódź. He went on to say that the idea had been accepted by the Infrastructure and Treasury Ministers. According to Rzeczpospolita, PP is worth between zł.1.9-3 billion. Until recently politicians and management of the state owned company were reluctant to even mention the issue of privatizing the firm for fear of antagonizing its 30,000 employees. It is highly likely that some of the shares would be distributed among employees, which would be one way of winning over their approval. They might also receive guarantees about keeping their jobs for a number of years. (Rzeczpospolita, pp. A1, B1) M.M.