The European Commission has approved the joint venture between CTT – Correios de Portugal and DHL eCommerce under EU merger rules.
The clearance removes the main regulatory hurdle. The companies will now complete the remaining steps to finalize the transaction. They expect to close the deal in May 2026, subject to approval under the EU Foreign Subsidies Regulation.
The partnership will strengthen both companies’ position in the Iberian e-commerce market. Spain and Portugal form Europe’s fourth-largest parcel market.
The agreement will create a combined network with capacity exceeding 1 million shipments per day. It is expected to generate around €1 billion in revenue.
Pablo Ciano, CEO of DHL eCommerce, said the partnership will deliver a high-performing network for both B2B and B2C customers. He added that it will support retailers’ growth and strengthen DHL’s position in Europe.
João Bento, CEO of CTT, said the deal marks a key milestone. He noted that the partnership will accelerate growth and expand CTT’s footprint across Iberia.
Under the agreement, CTT Expresso will acquire DHL eCommerce’s operations in Portugal. Grupo CTT will also take a 25% stake in DHL eCommerce Spain, while DHL eCommerce will acquire 25% of CTT Expresso. Both sides may increase their stakes to up to 49%.
In Portugal, CTT Expresso will manage DHL eCommerce parcel volumes. In Spain, the companies will split operations. CTT Express will focus on B2C services, while DHL eCommerce Spain will handle B2B activities.
The joint venture aims to improve efficiency and capture strong growth in the regional e-commerce sector.
