Privatisierung

Privatisation: Privatisation in Austria has been increasingly pursued since 1993, when the structural changes made in the decades before had proved insufficient to solve the economic problems of the (see)Nationalised Industry and other government controlled enterprises. A key role in privatisation is held by (see)Österreichische Industrieholding AG (ÖIAG), which has been entrusted with divesting itself of federal (state) majority interests within a reasonable time. Privatisation can take the form of direct sales of companies (management buyouts, sale to the best bidder etc.), or shares can be offered for sale on the Stock Exchange. The privatisation of the (see)Postal Service has been prepared since 1994. The Austrian Federal Railways ( (see)Bundesbahnen), on the other hand, have formed an independent enterprise since 1993, but the State continues to hold a 100% interest in them.