GLS plans Spanish acquisitions worth about 250 mln Eur in total

Royal Mail Group PLC’s unit General Logistics Systems (GLS), formerly German Parcel, is planning to expand into the Spanish market through acquisitions and has about 250 mln eur to spend, chief executive Rico Back told newspaper Die Welt.

‘We are in takeover talks in Spain and are planning to complete those in the coming two months,’ he said.

The company plans to further expand its operations into Romania and the Baltic states, the report added.

GLS is currently the third-largest parcel service in Europe.