UPDATE 2-La Poste aims for 2010 partial privatisation

(Adds comments on CDC, chairman quote, unions)

By Yann Le Guernigou

PARIS Aug 28 (Reuters) - The French post office said on Thursday it would ask the government for a change of legal status, kicking off a lengthy and politically sensitive process aimed at its partial privatisation in 2010.

La Poste, which announced last month it was studying a partial sell-off, said it would remain a state-controlled company as it prepares for liberalisation of most of Europe's post in 2011.

"I told the board today that I would refer our dossier to the government rapidly," Chairman Jean-Paul Bailly said.

One of the last bastions of full state ownership, France's postal service plans to raise 2.5 billion-3 billion euros ($3.7 billion-$4.44 billion) from the sale.

Any move towards privatisation would require turning the postal service into a public limited company instead of a civil service branch.

France's constitution bars the state from owning under 50 percent since La Poste is classed as a national public service.

Bailly said the change of status would be achieved by the start of 2010, allowing a capital increase during that year.

An aide to President Nicolas Sarkozy warned last month that France's mail would eventually be distributed by German or Dutch competitors if the country failed to respond to liberalisation.

But the plans are opposed by unions, already involved in sporadic strikes to defend pensions and the 35-hour week. Five unions said on Thursday they would meet on Sept. 2 to plan a one-day nationwide strike in protest at the sale.

Under European Union rules, most mail markets including France must be open to competition from the start of 2011.

Twelve of the EU's 27 states, mainly in eastern Europe along with Greece and Luxembourg, can delay this to 2013.

The sell-off is expected to value La Poste and its mail-to-banking business at about 10 billion euros, half the value of its equivalent in Germany

Bailly said French state bank CDC was expected to be one of its future institutional investors, alongside a possible stock market flotation needed to brace for foreign competition.

"It would be unthinkable that we were reduced to being spectators," he told a news conference.

La Poste generated sales of 20.8 billion euros in 2007.

It derives 56 percent of its revenues from mail and 23 percent from low-fee banking unit La Banque Postale. (Writing by Tim Hepher; Editing by Quentin Bryar)