Israel To Sell Off 40 Pct Its Postal Service

Israel plans to sell off 40 percent of its state-owned national postal service by bringing in a private investor and then listing shares on the Tel Aviv Stock Exchange, the Finance Ministry said on Monday.

A ministerial committee approved the sale of 20 percent of the Israel Post Co to a strategic investor in Israel or abroad. In a second stage, two years later, it will offer 20 percent of the company to the public, with shares to be traded in Tel Aviv, the ministry said in a statement.

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