The Swiss Post has launched a major initiative for doing business via the Internet by founding a new subsidiary called "yellowworld". With five partners, the Post intends to create 300 jobs and invest SFr200 million in the company by the year 2002.

The Swiss Post has launched a major initiative for doing business via the Internet by founding a new subsidiary called "yellowworld". With five partners, the Post intends to create 300 jobs and invest SFr200 million in the company by the year 2002.

Under the trade name yellowgate.ch, the Post will offer an Internet portal for information and electronic trade by the middle of the year.

A statement said that it would include all e-commerce services, from setting up e-shops to payment systems and logistics.

"yellowworld" will be a bridge between the real and virtual worlds, according to its new chief executive officer, Jean-Pierre Streich.

"With yellowworld, the Post wants to gain a leading position in the rapidly expanding e-business market and, at the same time, develop a value creation chain," he said

"yellowworld" will be a direct competitor for the Internet services (Blue Window) provided by Switzerland's main telecommunications provider, Swisscom.

With headquarters in Berne, "yellowworld" currently has a staff of 45.

swissinfo

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