Business

Brazil's Magazine Luiza, Amazon, DHL and FedEx eye potential acquisition of Correios

With the privatization process, the e-commerce and logistics companies want to buy the Brazilian state-owned postal service

Photo: Correios
  • During a webcast, Brazilian Communications Minister cited four companies that expressed the intention to acquire Correios;
  • Brazilian Congress must decide how the privatization process would develop.

Brazilian Communications Minister Fábio Faria said on Wednesday that there are five companies interested in acquiring Correios, the Brazilian state-owned postal service, reported Valor Econômico. During a webcast, he cited four of them: The Brazilian retailer Magazine Luiza, Amazon and logistics companies DHL and FedEx.

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Faria said that the Brazilian Congress must decide how the share control and obligations of the company that comes to buy Correios in the privatization process would work.