Fight for Survival Prompts Post Office Sale

Greek assets for sale

A rough global economy forces many companies to tighten their belts to uncomfortable levels. For some companies, liquidation becomes an option of last resort when all other efforts to support the business fail. That’s the position Hellenic Post SA, Greece’s Postal Service, finds itself in.

Founded in 1828, Hellenic Post SA has served Greece’s population for almost 200 years as an entity of the state. That status may soon change as Greece attempts to sell off state-owned enterprises to raise cash, pay off debt, and reduce expenses.

Mired deep in the middle of a steep economic slowdown, Greece is attempting to work with European leaders and the International Monetary Fund to gain access to much needed funds. If successful, the effort will help stabilize the country and prevent financial collapse.

Whether or not Greece manages to get the loan money it needs, Hellenic Post SA may soon find itself under the wing of a private organization as the country continues its uphill financial battle.

Do you think the sale of Hellenic Post will affect its service to the community?

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