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Israel is planning to sell 40% of its public postal services to the state by appealing to a private investor and then listing shares on the Tel Aviv Stock Exchange, the Ministry of Finance announced on Monday.
A ministerial committee approved the sale of 20% of Israel Post Co to a strategic investor in Israel or abroad. In a second time, two years later, he will offer 20% of the company to the public, with shares to be exchanged in Tel Aviv, the ministry said in a statement.
After years of poor performance, Israel Post has made a major reorganization, including changing its range of delivery centers and reducing its workforce.
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