Brazil Seeks $2.7 Billion With Postal Service Privatization
3h ago
Simone Iglesias and Martha Beck, Bloomberg News
(Bloomberg) -- Brazil seeks as much as 15 billion reais ($2.7 billion) with the sale of its postal service next year, the first major privatization of an ambitious plan that has so far yielded limited results.
Communications Minister Fabio Faria sees some 10 companies as potential buyers, including delivery firms FedEx Corp. and DHL, a unit of Deutsche Post AG, as well as retailers Magazine Luiza SA, Amazon.com Inc. and the local unit of Mercado Libre Inc. Five of them have expressed interest in the sale, Faria said in an interview, without providing specifics.
“We are willing to evaluate how we can contribute to the privatization process to be efficient for Brazil and for our services,” Mercado Libre said in a statement. According to FedEx Corp, the company is continuously monitoring the market for opportunities to expand its business in Brazil, but would not comment further. Amazon is not in talks to acquire Correios, the company’s press office said in a note to Bloomberg News. Magazine Luiza declined to comment, and DHL did not immediately respond to requests for comment when contacted.
The price tag suggested by Faria for the privatization was seen as exaggerated by two former government officials familiar with the company’s financial situation, which includes labor liabilities, pension fund issues and bloated staff numbers.
More:
https://www.bnnbloomberg.ca/brazil-seeks-2-7-billion-with-postal-service-privatization-1.1499122
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