June 15, 2018 / 5:40 AM / 6 months ago

BRIEF-CTT And Sonae To Create JV And Exploit Business Opportunity In E-Commerce Market

June 15 (Reuters) - CTT Correios de Portugal SA:

* SAID ON THURSDAY ENTERED INTO AGREEMENT WITH SONAE SGPS SA TO CREATE JOINT VENTURE TO EXPLOIT BUSINESS OPPORTUNITY IN E-COMMERCE MARKET

* SAYS CREATED COMPANY WILL HAVE SONAE (50 PERCENT) AND CTT (50 PERCENT) AS ITS SHAREHOLDERS

* IMPLEMENTATION OF PROJECT INVOLVES INVESTMENT OF 10 TO 15 MILLION EUROS IN FIRST TWO YEARS OF OPERATION, EQUALLY SPLIT BETWEEN THE TWO COMPANIES

* CREATED E-COMMERCE PLATFORM TO PROVIDE INTEGRATED SERVICES FOR INTERMEDIATION OF COMMERCIAL RELATIONS BETWEEN SELLERS AND CONSUMERS

Source text: bit.ly/2JBXW0R bit.ly/2HTeLhY

Further company coverage: (Gdynia Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below