PRIVATISATION OF MALTA POST
The first phase of the privatisation of the Maltese postal service was completed in 2002 when the government sold off 35% of the shares to Transend Worldwide, a subsidiary of New Zealand Post. Following a four-year reform Transend Worldwide sold its interest to Redbox Ltd. The initial objective of the privatised of the postal service was to ensure better efficiency and higher quality service to the public.
The second phase of the privatisation of Maltapost was in 2007 when the majority of shares in the postal services company Maltapost were passed on to Redbox Ltd, a subsidiary of Lombard Bank p.l.c. Through the privatisation agreement, the government passed on 25% of its shares to Redbox Ltd, granting Lombard Bank 60% of the shares of the company. The remaining 40% of shares that the government held in Maltapost were placed on the Malta Stock Exchange.
MaltaPost is Malta's leading postal services company, being the sole licensed Universal Service Provider of postal services. The Company has a dominant presence in the Maltese market for all postal services with its six day deliveries per week to all households and businesses in Malta and Gozo, together with the largest retail postal network serving the general public.