Martin Brady
Ceist:99 Mr. M. Brady asked the Minister for Public Enterprise the plans, if any, she has to introduce an employee share ownership trust in An Post; and if she will make a statement on the matter. [26717/99]
Written Answers. - Employee Shareholding Schemes.
Martin Brady
Ceist:100 Mr. M. Brady asked the Minister for Public Enterprise the plans, if any, she has to have an independent valuation of An Post for the establishment of an employee share ownership trust; if a valuation has been conducted; if so, the estimated market value of the company; and if she will make a statement on the matter. [26718/99]
I propose to take Questions Nos. 99 and 100 together.
Recognising the major challenges facing An Post, the Government recently accepted my proposals on the need for the company to engage in a radical transformation process. The Government has agreed that part of this transformation will involve a strategic alliance with one of the major European operators and agreement to early liberalisation of the postal market. The Government has also given the go-ahead for negotiations on an employee share ownership scheme which will be part of the transformation of the company.
I have asked the company to consider all of these issues, in conjunction with the unions in An Post, and to put proposals to me at an early date. The details of an ESOP, including the question of an independent valuation of the company, will be considered by me, together with my colleague, the Minister for Finance, following receipt of proposals from the management and unions. An independent valuation of the company has not been conducted to date.