Portugal’s postal and logistics group CTT is advancing its strategic partnership with DHL eCommerce after receiving approval from European regulators, clearing a key hurdle for the creation of a joint venture focused on parcel distribution across Portugal and Spain. The agreement, originally announced in late 2024, is designed to strengthen both companies’ positions in the rapidly expanding e commerce sector. With regulatory clearance now secured, the two groups are preparing to complete the remaining steps required to formally establish the partnership in the coming months.
The collaboration will combine the operational strengths of both companies to create one of the most comprehensive parcel delivery networks in the Iberian Peninsula. The joint platform is expected to handle more than one million shipments daily, covering both business to business and business to consumer segments. This integrated approach also includes out of home delivery solutions, reflecting changing consumer behavior and the growing demand for flexible delivery options in online retail markets.
Under the terms of the agreement, the partnership involves cross investment between the two companies, reinforcing long term cooperation. CTT Expresso will acquire DHL eCommerce’s operations in Portugal along with a 25 percent stake in DHL eCommerce Spain. In return, DHL eCommerce will take a 25 percent stake in CTT Expresso, with both parties retaining the option to increase their holdings to nearly half ownership in the future. This structure is intended to align strategic interests while allowing each company to maintain operational focus within its core markets.
The operational model will differ slightly between the two countries to maximize efficiency. In Portugal, CTT Expresso will integrate DHL’s local business and take joint responsibility for parcel handling and nationwide distribution. In Spain, the partnership will follow a complementary structure where CTT Express focuses on consumer deliveries while DHL eCommerce Spain concentrates on business clients. This division of roles is expected to enhance service quality and streamline logistics operations across both markets.
The partnership targets a combined revenue potential of around one billion euros, reflecting the scale of opportunity in the Iberian logistics sector. Portugal and Spain together represent one of Europe’s largest markets for parcel delivery, driven sustained growth in online commerce and cross border trade. Executives from both companies have emphasized that the collaboration will improve efficiency, expand coverage and deliver greater value to customers leveraging shared expertise and infrastructure.
With final approvals still pending under additional European regulations, the transaction is expected to be completed May. Industry observers view the move as a significant step in the consolidation of logistics networks in Southern Europe, as companies seek to scale operations and meet rising demand. The partnership positions both CTT and DHL to compete more effectively in a market where speed, reliability and network reach are becoming critical differentiators.
