PostNL and Sandd consider consolidation (translated)
07 APR 2018
The Dutch postal companies PostNL [AMS:PNL] and Sandd are considering a consolidation of the two companies, the Dutch daily De Financiële Telegraaf reported, citing Sandd Chairman Ronald van de Laar.
PostNL and Sandd are currently strong competitors, but last year in July the Dutch ministry of Economic Affairs said after doing research it has been found that a cooperation between the two companies could be a solution to deal with a decline in businesses. PostNL has already mentioned earlier that it feels for a consolidation with its main competitor.
Initially Sandd did not seem interested in a consolidation, but Van de Laar has now said that the company is open for this after all, because less and less letters are being sent. Van de Laar did not say who should acquire who, but was quoted saying that all options were open.
Talks will be held between the two postal companies and the ministry of Economic Affairs in just over a week, the report said.
In 2017, PostNL recorded turnover of EUR 3.5bn, Dutch news site NOS reported earlier. Sandd had a turnover of about EUR 195m in 2017, Dutch daily Het Financieele Dagblad said.
De Financiële Telegraaf noted that PostNL owns a 70% market share, while Sandd owns 30%.
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