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

LABS

17.Sep.2020 11:44 BRT
UPDATED 22.Jan.2021 15:07 BRT

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.

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.

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