Portugal’s post operator CTT-Correios de Portugal bought a 51 pct stake in local archive management company EAD – Empresa de Arquivo de Documentacao, Portuguese daily Jornal de Negocios reported on November 29, 2005. The sum of the operation was not disclosed. EAD’s founder and board of directors chairman Paulo Veiga remained the holder of the remaining 49 pct.
Read MorePortugal’s post operator CTT-Correios de Portugal plans to advance with the project for the establishment of a post bank in the country with or without the agreement of Portugal’s largest bank Caixa Geral de Depositos (CGD), it was reported on November 24, 2005. An agreement signed with CGD in January 2003 tied CTT with the state bank concerning the establishment of a post bank. CTT’s former board of directors announced at the beginning of 2004 its plans to launch a post bank in collaboration with Portuguese financial group Banif, but Portuguese Government recently renounced the model.
Read MorePortugal’s postal operator CTT-Correios de Portugal projects to generate an annual turnover between 175 mln euro (USD209.6 mln) and 180 mln euro (USD215.6 mln) from its express mail service operations, it was reported on October 11, 2005. CTT express mail service growth is seen in line with the recent purchase of Spanish courier services company Tourline Express, which will be responsible for CTT’s express mail services in Spain. CTT acquired Tourline Express in July 2005 for 27.5 mln euro (USD32.9 mln). Currently CTT and Tourline Express generate some 155 mln euro (USD215.6 mln).
Read MorePortugal’s postal operator CTT-Correios de Portugal plans to launch a new e-mail service. CTT’s new e-mail box, called Caixa Electronica Postal, will be available as of the first quarter of 2006, the company’s chairman, Luis Nazare, said. Caixa Electronica Postal will be the first product in the segment of the digital services of CTT, Nazare added. Initially, CTT will distribute a total 5,000 e-mail boxes to clients in the country’s public administration sector. The company targets later each Portuguese national to use CTT’s e-mail box. According to the company, the service will be free for the citizens in the country. Apart from the new e-mail service, CTT is currently studying the opportunities to enter also the segment of hybrid mail services.
Read MorePortugal’s postal operator CTT-Correios de Portugal will launch as of October 1, 2005 its express mail service on the whole Iberian Peninsula, it was reported on September 21, 2005. Tourline Express will be the company responsible for CTT’s express mail services in Spain. CTT acquired Tourline Express for 28.5 mln euro (USD34.6 mln) in June 2005. According to CTT’s chairman, Luis Nazare, the acquisition of Tourline Express was the first step in the process of integration of all CTT’s operations in the segment of the express mail deliveries on the Iberian Peninsula market.
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