Norway Post Group
Norway Post became a limited company on 1st July 2002. The Government is the sole shareholder in Norway Post Group and cabinet ministers make up the companies general assembly. When Parliament took on the proposition of forming the Group in June 2002 it was stressed that sector-political interests were the reason why the State wished to keep a 100% stake. Sell-off and market quotation are as such not relevant themes.
The transformation of Norway Post to a limited company is first and foremost a message to the market that Norway Post will be run as a business and operate in a competitive market. The establishment of a 'Group' gives the company increased market freedom and flexibility.
Norway Post’s socially defined duties, and so too the authorities responsibilities to Norway Post, will continue to be regulated through concession and legislation. Norway Post gained a new concession from 01.10.01 which is valid until 31.12.05. This is transferred without change to Norway Post Group.
Norway Post will continue to provide a business plan (§10 plan) to the Minister for Transport and Communications on an annual basis. Every second year a shareholder report will be presented to Parliament. With this, the Government’s possibilities to lead Norway Post are carried on, but the duty to present cases to the Ministry for Transport and Communication is somewhat limited.
The obligation to present individual cases to Parliament has also been reduced, and it is now the Minister for Transport and Communication who decides which cases will be discussed in Parliament.