Deutsche Post DHL has had its offer to buy UK Mail for £242.7m cleared by the European Commission, bringing the deal one step closer to completion.
The German company announced its intention to buy the UK postal operator in September this year, after two years of turbulence at UK Mail.
DHL said the move is part of an ongoing scheme to build up its European parcel network, which it’s implementing to offer its customers more cross-border services.
UK Mail chairman Peter Kane said that the UK Mail board believed the company would be “better positioned” to build the company “with the benefit of Deutsche Post DHL’s greater financial and operational resources".
According to the timetable laid out in the scheme document, DHL expects the deal to take effect around the 22 December.
