PostNL responds to bpost statement regarding a possible offer

The continuing saga of PostNL’s interest in buying bpost has taken another turn today, as the Netherlands postal operator says it has “confidence in its standalone strategy”. As previously reported, bpost issued a statement this morning in which it stated: “bpost confirms that it is exploring internally a possible friendly approach to PostNL. bpost is surprised about, and regrets, the inadvertent leakage of an internal and confidential working document leading to press reports about a possible enhanced proposal to PostNL.

“Since the end of the prior discussions in May this year, bpost has continued to study internally the desirability, timing and content of a possible new approach to PostNL, and still believes in the merits of a possible combination with PostNL

“These internal discussions have not yet reached the decision-making stage and have not led to a proposal for consideration by bpost’s Board of Directors. Accordingly, no decision has been made as to whether to initiate a new approach to PostNL or as to the content of a revised proposal. Since the end of May, there have not been any further discussions with PostNL on the structure or terms of a possible combination.”

However, PostNL has now issued its own statement, which does not appear to welcome any advances from its Belgian counterpart.  The PostNL statement reads: “PostNL was unpleasantly surprised by the rumours in the media yesterday that bpost would be preparing a possible offer. We have taken notice of this morning’s public announcement by bpost and we confirm that we are not in discussions with bpost.

“We have confidence in our stand alone strategy. We have made good progress in implementing our strategy and enforcing PostNL’s sustainability over the last couple of years. We are committed and expect to resume dividend payments in 2017 and to create long term value for our shareholders.”