Post Danmark withdraws from Morgendistribution Danmark
Post Danmark has today decided to sell its shares in Morgendistribution Danmark A/S. The 49 per cent of the shares, which are held by Post Danmark, will be sold to 365 Media Scandinavia A/S, who thus will become the sole owner.
Last year, Post Danmark committed itself to establishing Morgendistribution Danmark because of the opening of an entirely new market for household distribution of free newspapers etc. early in the morning.
– We must now conclude that our expectations for this market cannot be fulfilled. This is due, among other things, to the restrictions that the competition authorities have put into their approval of the cooperation and that de facto make us a passive investor. The conditions in question will eliminate the strategic prospects of the cooperation and not make it possible for Post Danmark to contribute with know-how or otherwise, says Helge Israelsen, CEO.
Post Danmark estimates to have lost approximately DKK 10 million as a result of its involvement in Morgendistribution Danmark.
For more information: Helge Israelsen, CEO, tel. +45 33 75 40 00.
