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Portugal privatizes up to 70 percent of national postal service; 5 pct of shares to workers
Reported by: Associated Press
Reported: Thursday, October 10, 2013 10:51 AM EDT
Portugal's government has announced plans to sell up to 70 percent of the state-owned mail company CTT-Correios de Portugal.
Another block of shares will be sold to financial institutions.
The statement said the share price will be announced at a later date. It gave no further details, including the date of the sale.
CTT had operational revenue of 711.7 million euros and a consolidated net profit of 38.6 million euros in 2012, according to its annual report.