Lisbon, March 19, 2026 (Lusa) - The European Commission (EC) has approved the partnership and joint venture between CTT (the Portuguese postal service operator) and DHL eCommerce Spain, which had been announced on 19 December 2024, the Portuguese company announced on Thursday.
CTT Expresso and DHL eCommerce announced in 2024 a strategic partnership for parcel distribution across Portugal and Spain, involving cross-shareholding acquisitions between the two companies.
According to CTT’s 2024 statement, the two companies will "combine high-efficiency parcel delivery networks in B2B [business to business] and B2C [business to consumer], including out-of-home deliveries, with a daily capacity exceeding one million shipments across the Iberian Peninsula”.
The objective is to "enhance efficiency and address growth opportunities in the e-commerce and parcel delivery markets" in Spain and Portugal which, combined, constitute Europe’s fourth-largest market.
In a statement released on Thursday, CTT noted that the EC's authorisation was the key condition requiring approval from an external regulatory authority.
“With this requirement now met, both parties will proceed with the remaining steps necessary to complete the transaction and formally establish the joint venture, subject to authorisation under the EU Foreign Subsidies Regulation (FSR) and the usual conditions of completion”.
The transaction is expected to be completed in May this year.
According to CTT, "The agreement, which will generate combined revenues of €1 billion, will create two of the most extensive parcel collection and delivery networks in the Iberian Peninsula, with a daily capacity of over 1 million shipments, supported by the establishment of joint ventures in both countries".
To consolidate the partnership, CTT Expresso is acquiring DHL eCommerce Portugal and a 25% stake in DHL eCommerce Spain.
In turn, DHL eCommerce is acquiring a 25% stake in CTT Expresso.
According to the statement, both CTT and DHL may increase their respective stakes to a maximum of 49%.
In Portugal, CTT Expresso will take over DHL eCommerce’s local operations, becoming co-responsible for the processing and distribution of DHL eCommerce parcels nationwide.
In Spain, the collaboration will follow a clear, complementary model: CTT Express (the Spanish subsidiary of CTT Expresso) will focus on B2C services, while DHL eCommerce Spain will handle B2B activities.
Quoted in the statement, CTT CEO João Bento said that "CTT and DHL eCommerce bring together long-standing expertise and shared values in the parcel and logistics sector, where quality and reliability are essential".
"This partnership... allows CTT Expresso to accelerate its growth, expand its footprint, and reinforce its position as one of the fastest-growing e-commerce logistics operators in Iberia”, he added.
Pablo Ciano, CEO of DHL eCommerce, said he hopes “to jointly create a high-performance network that offers quality, reliability and value to B2B and B2C customers in Spain and Portugal”.
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