The Spanish government wants to sell off national postal operator Correos to raise much-neededfunds and hopes to agree a sale to Deutsche Post DHL, according to a report today.
Online publication ‘El Confidencial Digital’ (ECD) wrote that the government plans to privatiseCorreos fully and has held talks with the German postal group. Deutsche Post DHL, however, is onlyinterested in the Spanish operator’s international business and not the company as a whole, itsaid. ECD said that the German firm had made an offer for this business which was now beingevaluated.
The report, however, was played down by a Deutsche Post DHL spokesman. “We are not in contactwith the Spanish government,” he told CEP-Research. The company was regularly in contact withCorreos concerning a wide range of everyday business activities, he added.
The German group already owns a small Spanish mail company, Unipost, which competes with Correosin the domestic mail sector, while DHL Express is a major player in both the domestic andinternational express market.
According to recent Spanish media reports, the state holding company SEPI might be able to raisebetween €700 million and €2.5 billion by selling Correos.
In April, Correos announced its budget planning for 2012, with revenues targeted to drop 12% to€1.8 billion due to weak demand and a pre-tax loss of €166 million. Grupo Correos, includingseveral small subsidiaries such as express operator Chronoexprés, would see revenues drop 11% to€1.9 billion and make a €164 million operating loss.
