Posta sale given go-ahead

The Minister of Trade has been given the green light to privatise national postal service Posta as the legal details have now been finalised.

The new law authorises trade minister Poul Michelsen to offer the P/F Postverk Føroya (Posta) share capital for sale.

However, a condition of the privatisation is that P/F Postverk Føroya retains its monopoly on postal services in accordance with the law on postal services for a minimum of ten years after the acquisition date.

Parliament passed the new law on 21 December.

See also:

Industry backs Posta privatisation

Municipalities neutral on Posta privatisation plan

Translated by prosa.fo