CTT’s Christmas shopping
The centuries-old company is already a big player in the parcels business in Portugal and Spain. With two announcements made this week, it will become a "significantly larger" group in 2025.
The story of CTT, which is more than 500 years old, could have been that of a business in decline, with electronic communications replacing post. It is not. In recent years, the company has managed to ride the growth of e-commerce to become, today, an important player in the sector across the Iberian Peninsula.
With 2025 about to arrive, the group has just announced two developments this week that will make it a “significantly larger” company. The first came on Wednesday, when it announced to the market a 104 million euro investment in buying Cacesa.
AI translation from the Portuguese. First published in ECO on 20 December 2024.