Spain's Correos mulls 48 mln Eur buy of SCH's Parcel Service Co

State-owned postal operator Correos y Telegrafos is mulling the acquisition of a parcel service company to strengthen its position in the sector, Cinco Dias reported, citing unnamed sector sources.

According to the newspaper, Correos is currently in advanced talks to buy Banco Santander Central Hispano SA unit Servipack, in a deal worth some 48 mln eur.

But it is also eyeing other companies in the sector, it noted.

Last year, Correos and its French counterpart La Poste formed a joint venture ChronoExpres to develop a Spanish network for national and international express parcel services.