Includes bibliographical references and index.

Like many of his colleagues, António bought shares of CTT Correios de Portugal, S.A. (CTT), the Portuguese postal service company when it was privatized. António is now faced with the challenge of raising money to pay for his daughters tuition. The remainder of his savings is invested in treasury bills. Using an overview of CTT, the postal services industry, and the economic situation in Portugal, he has several angles for determining whether it is preferable to sell his shares or sell treasury bonds (Obrigações do Tesouro). This case invites students to estimate the intrinsic value of CTTs shares, assess the risk and return of shares and treasury bonds, and evaluate the privatization process used by the government.

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