Deutsche Post, the semi-privatised German postal authority, said Monday it planned to buy the Italian parcel service Casa di Spedizioni Ascoli later this week.
Confirming media reports to that effect, Deutsche Post said in a statement it planned to buy the Italian with effect from Wednesday.
“The acquisition will increase and improve our position in the Italian express delivery market,” the German company said.
Read MorePromoposta: Total coverage for advertising
and promotional material
Promoposta is a new product from Poste Italiane that allows companies to send advertising, printed material, and samples to all addresses in one or more postal codes. Seguimi: A simple mail forwarding solution for household and
business customers
The Italian post intends to set up a new parcel service over the next three years. The new service will involve the post’s CEP subsidiary SDA, which already offers express and parcel services, providing the actual transport, while collection and delivery will be handled by a network of franchisees
Read MoreWhile the Italian Treasury has banked a dividend of €46.9m from Ente Tobacchi Italiani, the procedure for the privatisation of the tobacco group continues. Five preliminary offers have been presented: British American Tobacco together with Swedish Match, Altadis-Equinox, Japan Tobacco Imprenditori Associati and Aurelia. The Dutch group TNT and FIT have withdrawn. The bids are being examined by the Treasury and its advisors Goldman Sachs and Grimaldi Clifford Chance. The data room will be opened in January. ETI posted pre-tax profits for 2002 of €92m, compared with €47m in the previous year. Earnings fell by 18 per cent to €677m, mainly due to new cigarette contracts with Philip Morris which accounts for 40 per cent of ETI production.
Read MoreBritish American Tobacco PLC and Swedish Match AB will present a joint offer for tobacco manufacturer ETI SpA, which the Italian government is privatising, news agency Radiocor said citing financial sources close to the deal.
TPG NV unit TNT Logistics is expected to pull out of the bidding process, the news agency said.
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