Collapse brings new intent for CTT Correios
Collapse brings new intent
After its intentions of a deal with La Poste fell through last year the Portugese postal service is to look to set up a partnership with TPG. The two posts have signed a letter of intent to explore a potential long-term strategic alliance, which will focus on domestic and international express delivery service both within and from Portugal. “The aim of the alliance is to offer the best express services,” said a TPG statement. The transaction is scheduled to be completed before the end of the year. Scheepbouwer, chairman and cEO of TPG considers a closer co-operation between TPG and CTT Correios as an important step in improving TPG’s position in Southern Europe: “CTT is a modern, forward looking postal company and therefore and ideal partner in the Portugese market. We believe through this cooperation we can bring world class express products to the Portugese customers.” Emilio Rosa, head of CTT Correios said the company has signed a very important letter of intent and a commercial agreement which enables us to improve the quality of the express service, by using the network of a major international integrator and deliverer.” A deal of a similar nature between CTT and La Poste failed after CTT said La Poste was not acting swiftly enough.
