Brazil’s postal service interested in buying Portugal’s postal service

7 November 2012

Brazil’s postal service, Correios do Brasil is this week expected to make an official proposal to the Portuguese government to buy the Portuguese postal service, CTT, the Brazilian press reported.

According to Brazilian newspaper, Folha de S. Paulo, Correios do Brasil is interested in the Portuguese company, which is due to be sold by the end of the year.

One of the models for acquisition of CTT includes a partnership with the Bank of Brazil to set up a postal bank in Portugal.

In May the chairman of Empresa Brasileira de Correios e Telégrafos (ETC), Wagner Pinheiro de Oliveira said that Correios do Brasil planned to boost partnerships with counterparts in Portuguese-speaking countries, particularly with Portugal’s CTT. (macauhub)