- 16 November 2020
- Transport / Logistics Services
Poste Italiane has agreed to buy Italian rival postal operator Nexive from PostNL and Mutares Holdings.
Nexive controls around 12% of the mail market in Italy, handling around 350 million items a year. It also has around 1% of the parcels market. Revenues in 2019 were around €200 million, and it has around 1,300 employees in Italy.
The agreed value for the transaction will be around €60 million – payment will be made upon due diligence completion, and should all go through the transaction will take place in January.
Mail volumes are in sharp decline and for Poste Italiane, consolidation and expansion is a survival mechanism to maintain its reach and staffing.