UPS expresses interest in Israel Post privatization tender
United Parcel Service made an appearance on a Government Companies Authority Zoom conference dedicated to the tender.
By DANIEL NISINMANIsrael Postal Company branch in Jerusalem 390 (R)(photo credit: Ronen Zvulun / Reuters)
United Parcel Service (UPS), the multinational package delivery company based in the US, participated in an investors' Zoom conference hosted by the Government Companies Authority (GCA), which detailed the planned privatization tender of Israel Post, according to Globes.On Thursday, the GCA announced its plan to follow through with a two-stage plan to privatize the Israel Postal Company. According to the approved plan, 20% of the company will be sold to an investor and an additional 20% will be put on the Tel Aviv Stock Exchange.Among the participants in the conference were the Fuhrer family, which owns 70% of Bezeq together with Searchlight Capital Partners; representatives of Fortissimo Capital, a private Israeli equity fund; Gama Management & Clearing; the Kedma Fund; Cukierman Logistics; and former heads of the authority and the Budget Division of the Finance Ministry.Despite the cheerful announcement that may finally put an end to the never ending story of Israel Post privatization efforts, which started in July 2018, some core issues remain unresolved and may pose a problem for future investors, including regulations pertaining to future postal services.Some of these unresolved regulations include fixing prices on stamps. However, Israelis remain hopeful that such an investment may bring about a change to the problematic functioning of the postal service in Israel.
