Deal collapsed!: Weko bans takeover of Quickmail by mail

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The post office was filled with confidence. Unions were also waiting for the takeover to happen. But now the Competition Commission (Comco) is putting an end to the postal service and the Quickmail group’s plans. Comco vetoes and bans the merger. According to Comco’s statement, the acquisition would eliminate effective competition in at least one market. There is also a competition-friendly alternative to taking over the post office.

Quickmail Group has two subsidiaries: Quickmail and Quickpac. The group distributes letters, unaddressed items (e.g. advertising flyers), newspapers and magazines as well as packages throughout Switzerland. Difficult for ComCo: Swiss Post also operates in these areas. “The takeover would create a de facto monopoly on the postal service and would therefore have a negative impact on competition, to the detriment of consumers and business customers,” Comco said, justifying its decision.

Post and Quickmail claimed this was a restructuring acquisition. But Comco sees this differently. The existence of an alternative buyer for Quickmail, in addition to the post office, with many years of experience in the field of postal services, would have guaranteed the group’s continued existence. (euro)

++Update to follow++

Source :Blick