A PYMNTS Company

EU: Failed postal merger causes political spat in Belgium

By  |  May 30, 2016

Belgian postal service Bpost and Dutch rival PostNL on Sunday said they had been in merger talks but that negotiations ended without an agreement.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Bpost had made a friendly offer for all the shares of PostNL, but “these negotiations have, in the end, not led to agreement on the terms of such a transaction,” the companies said in similar statements on their respective websites.

    Trading in shares of both companies was halted on Friday, following Belgian media reports that Bpost had submitted the offer to acquire its Dutch competitor. Spokespeople for the companies on Friday had neither confirmed nor denied the talks and said only that they would issue a statement before the market opens on Monday.

    The postal sector in Europe is suffering from declining mail volumes, though it is experiencing rapid growth in parcel delivery, as more customers shop for goods online. PostNL says it is the leading mail and parcels company in the Benelux—Belgium, the Netherlands and Luxembourg. Both companies operate in countries across Europe, North America and Asia.

    Bpost has a market capitalization of around 4.87 billion euros, nearly three times PostNL’s market cap of around €1.7 billion.

    Full Content: The Wall Street Journal

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.