Denmark and Sweden Merge Postal Services

Denmark and Sweden have signed an agreement to merge their national postal services according to the Copenhagen Post Web site.

The site reports an agreement formalizing the merger of the Danish postal service Post Danmark with its Swedish neighbor, Posten Sverige, has been signed.

The head office will be located in Sweden and the CEO will be Swedish. 60% of the company will be owned by Sweden, and 40 % by Denmark, but the influence will be 50-50. The unions are reported to be pleased with the arrangements.

The deal has been in the works for nearly a year. The two states signed letters of intent April 1. The merger is still subject to formal approval by the Danish Parliament and by European Union competition authorities according to Joel Sherwood of Dow Jones Newswires.

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