Magyar Posta prepares for postal market deregulation

Deals

State-owned Hungarian postal company Magyar Posta is preparing to expand its investment and telecommunications services, while outsourcing post offices in the countryside before the deregulation of the market in 2013, CEO László Geszti said at a press conference on Tuesday.

Magyar Posta is preparing to introduce accounts for and sell dematerialized securities, Geszti said. It is also wants to enter the data transfer segment of the telecommunications market, he added.

In spite of the deregulation, Magyar Posta wants to remain a part of the national infrastructure and prevent the number of staff, at 35,000 at present, from falling.

Deputy-CEO Dezső Varga said Magyar Posta would put higher added-value products in the forefront together with services tailored to individual needs. It will start offering clients "hybrid letters" that it transcribes from email to paper or vice versa, he said, citing an example of such products.

About 70% of Magyar Posta's revenue already comes from the private sector, said deputy-CEO Attila Rajnai.

Magyar Posta does not want to become a bank, but it wants to offer the same day-to-day financial services offered by banks to retail clients and small businesses, said deputy-CEO Gabor Bakati.

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