Yeah, that'll obviously work....

But it's worked with the trains, hospitals, sch...oh.

It is a way of dumping the pension liability if nothing else. I want the Universal Post to remain and who ever gets a licence must be bound to that.

any sell off of the postal service will not include the pension liabilities, that will remain firmly behind as any prospective buyer will not want that milestone around their necks.

I expect the government would be liable for the existing deficit. Either that or they'll get almost nothing for it when tehy sell it.
+1

In which case the liabilities will never fall and the private sector will end up with a debt free company and a practical monopoly to abuse. The tax payers will never get enough from the sale to make up for any losses, or even come close. Look out how underpriced every other privatisation has been. Tax payers you are about to get fleeced again.