Spanish Correos want stake in Portuguese market

 In Investment, News

The Spanish postal company Correos state they have strategic plans to penetrate the Portuguese market.

Outlined for its strategic plan for 2019, the company aims to rapidly create an efficient natwork of distribution and deliveries all over the Iberian peninsula.

Spain’s largest public company intends to begin a “new chapter in growth at the international level” and thereby “improve our revenues and become profitable” says the President of Correos, Juan Manuel Serrano.

Serrano announced this week the creation of an International Business Commission with the goal of beginning its international expansion into “the Iberian peninsula and South-West Asia”.

The strategy starts by creating a service at an Iberian level in 2019 “with a more efficient network of deliveries which will enable any parcel on the peninsula to be delivered in less than 24 hours.

Correos is a company whose capital is 100% state-owned, employing around 51,000 and is today the largest public company in Spain after other larger public giants like Iberia, Endesa, Telefónica and Argentaria were privatised in the 1980s and 1990s.