JERUSALEM, July 10 (Reuters) – Israel decided on Sunday not to float its financially-troubled Postal Service on the Tel Aviv Stock Exchange, opting instead to sell Israel Post en bloc to a private investor by 2023 .
Israeli Communications Minister Yoaz Hendel said the privatization agency intended to complete the sale within 16 months.
In April, the minister announced an IPO project involving 40% of the capital of the post office by the end of 2022 and a plan for 1,600 job cuts. The remaining 60% was to be sold to a strategic investor by mid-2023. (Steven Scheer, Gilles Guillaume for the French version)