Shop owners have accused An Post of acting like “corporate bullies” over its recent decision to restrict the sale of stamps to retailers.

AN Post had pre-tax losses of €25.6 million in 2009 in what it called its most commercially challenging year ever. Profit before tax in 2008 was €39.9m.

The Government has approved a joint venture between An Post and the Belgian/Dutch international financial services company, Fortis.