Oesterreichische Post to buy local parcel posting operators following expansion plan

Oesterreichische Post will unfold the move in the next 15 months as it wants to set the basis of its own business in Eastern Europe, a very fragmented market at the moment, according to the group’s financial manager, Rudolf Jettmar.

The Austrian-based postal operator spent some 210 million euros on takeovers and another 150 million euros will have the same destination. Oesterreichische Post runs similar businesses in Slovakia, Croatia, Hungary and Serbia.

The company was established in 1999 and employs some 25,000 people. It is headquartered in Vienna and runs 1,300 offices in the country.

Source: NewsIn