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Who Will Win the Fight for the Privatization of Correios? Amazon, FedEx, or Magazine Luiza? There Are Rumors That UPS, Alibaba, and Mercado Livre Are Also Interested in the State-Owned Company
Privatization of Correios – At least five companies are interested in buying Correios if the state-owned company is privatized, stated on this day (09/17) the Minister of Communications, Fabio Faria. 4 billion reais are reserved by the Government to advance the privatization of Eletrobras
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Will the market give a vote of confidence to the purchase of a retailer by the delivery service? Magazine Luiza competes with the giant Amazon and international companies DHL and FedEx. There are rumors that UPS, Alibaba, and Mercado Livre are also interested in buying Correios.
The minister commented on the issue during a live stream conducted by an investment website. He promised to send a project to Congress for deputies and senators to analyze the details of the sale, including the stock control and obligations of the company that acquires the state-owned enterprise.
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According to Fabio Faria, it will be the National Congress that establishes the guidelines and parameters for the privatization of Correios, based on studies by consultancy hired by BNDES.
Who Will Win the Fight for Correios? Amazon, Magazine Luiza, UPS, Alibaba, or Mercado Livre
Amazon announced the opening of its fifth distribution center in Brazil: in total, there will be four in the state of São Paulo and one in Pernambuco. Magazine Luiza, in turn, rents 17 warehouses scattered across Brazil, in addition to using its physical stores for distribution.
There were rumors that Alibaba was interested in acquiring Correios: it operates in e-commerce through AliExpress and has a logistics subsidiary called Cainiao, which operates flights from China to Brazil to expedite deliveries.
Another name in the running was Mercado Livre, also an e-commerce company that invests in logistics. It has two warehouses in the state of São Paulo and will open a third distribution center in Bahia. The American UPS also reportedly expressed interest earlier this year.
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