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May 18, 2012
Sweden and Denmark deliver on postal merger
Published: 3 Feb 09 10:15 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/17326/20090203/
The agreement formally regulating the merger between the Swedish and Danish post offices, Posten and Post Danmark, has been signed, the Ministry of Enterprise, Energy and Communications has confirmed in a statement.
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"This is because CVC would be a minor share holder in the new postal firm, which would not be in accordance with CVC's investment policy," said the statement.
That CVC is bought out will also give Post Danmark "a greater possibility to focus on the implementation of the Scandinavian merger."
The combined firm will be 60 percent Swedish and 40 percent Danish owned. The board will however be divided equally.
The merger is subject to the approval of the competition authorities and the Minister for Enterprise and Energy, Maud Olofsson, hopes that the fusion will be completed by the summer.
Olofsson confirmed that Fritz H. Schur, Post Danmark's current chairman, will assume the post of chairman for the new firm. The new company's CEO, who will be Swedish, has not yet been announced.
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