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EU Approves CTT–DHL eCommerce Joint Venture

[ March 25, 2026   //   Gary Burrows ]

DHL eCommerce and CTT – Correios de Portugal have received unconditional approval from the European Commission for their planned joint venture, clearing a major regulatory hurdle and moving the deal closer to completion, the companies said.

The approval under the EU Merger Regulation satisfies the primary external condition required for the transaction. The companies still need clearance under the EU Foreign Subsidies Regulation and completion of remaining procedural steps, with closing expected in May.

The partnership will combine operations across Spain and Portugal, creating an integrated parcel network designed to serve both B2B and B2C customers in the Iberian Peninsula. The companies said the joint venture will generate about 1 billion euros in combined revenue and support a daily handling capacity of more than 1 million shipments.

Under the agreement, CTT Express will acquire DHL eCommerce’s operations in Portugal and take on responsibility for processing and distributing DHL volumes in the country. In Spain, the structure will split responsibilities, with CTT Express focused on B2C deliveries and DHL eCommerce Spain handling B2B activity. Both companies will take cross-shareholdings of 25 percent in each other’s operations, with options to increase stakes to as much as 49 percent.

Executives from both companies said the collaboration is intended to strengthen network efficiency, expand geographic coverage and improve service quality amid continued growth in e-commerce demand across Southern Europe, one of the continent’s largest and fastest-growing parcel markets.

The joint venture is expected to enhance last-mile capabilities and create two closely integrated delivery networks across Iberia, positioning both firms to compete more effectively in a region where parcel volumes continue to rise alongside online retail activity.

Tags: Correios de Portugal, CTT Express, DHL eCommerce