July 7 (Bloomberg) -- La Poste, France's state-owned mail service, may sell a 20 percent stake, seeking to raise between 2 billion euros ($3.13 billion) and 3 billion euros, Les Echos reported, without saying where it got the information.

The Paris-based postal service is considering changing its legal status and selling shares to the public, the newspaper said. No decision has been made, according to the government, Les Echos said. La Poste needs the funds to compete with European rivals as the region's postal market opens to full competition in 2011, it added.

A listing would value the entire company at least 10 billion euros, the French daily said. The possibility of selling shares to the public may be discussed at a board meeting on July 10, the daily said.

To contact the reporter on this story: Albertina Torsoli in Paris at atorsoli@bloomberg.net

Last Updated: July 7, 2008 01:43 EDT