SPENDING SPLURGE: Eesti Post has invested heavily in buying related companies in recent years.
TALLINN - Meelis Atonen, who has been the council chairman of Estonian state-owned postal company Eesti Post for five years, said that he doesn’t see any reasons why the state should own the company anymore, reports Eesti Paevaleht.
“Activities of a state-owned company are always limited, investments and expansion plans questioned. Also, we have to keep in mind the local market, but in the logistics business, scale is the key word. Thus, privatization via foreign partners should be aspired for, since they are ready to offer a higher price in the name of scope,” Atonen said.
Eesti Post has been profitable in recent years and the value of the company is estimated at up to 25 million euros.
As Estonian national broadcasting corporation ERR wrote at the end of January, Atonen believes that now is the right time for privatization since state-ownership hinders international expansion. Juhan Parts, the minister of economic affairs, said that an analysis is needed before a decision can be made on the issue.
Eesti Post has invested heavily in the Baltics in recent years, acquiring Lithuanian package delivery company Unipakas in October and launching a parcel lockers service in Latvia in November.
The Estonian postal company acquired 100 percent of shares of the Estonian Electronic Mail Ltd. from Finnish postal company Itella at the beginning of this year, which will be incorporated into Estonian Post Info Logistics Division as Printing Solutions Department.