Swiss Post may not take over Quickmail Group
Published: Friday, Jan 19th 2024, 08:50
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Swiss Post may not take over the Quickmail Group. The Competition Commission (ComCo) has prohibited the acquisition. It justified the move with the threat of restrictions on competition. The Quickmail Group criticizes the decision as irresponsible. It would jeopardize more than 3000 jobs.
An in-depth examination revealed that the takeover would eliminate competition in the market for addressed bulk mail items weighing over 50 grams for business customers, the Competition Commission announced on Friday. In addition, Swiss Post would also gain a dominant position in other areas, such as the delivery of newspapers and magazines.
Other prospective buyer
The Quickmail Group had argued that it was no longer economically feasible to continue the business independently due to negative figures. The Competition Commission did not dispute this in its decision. However, a restructuring takeover could only have been permitted if Quickmail was expected to disappear from the market anyway - and customers would have switched to Swiss Post, according to the press release. This was not the case, as another company was also interested in Quickmail.
The Quickmail Group, with its two subsidiaries Quickmail and Quickpac, delivers letters, unaddressed items such as advertising flyers, newspapers and magazines as well as parcels throughout Switzerland. It was not clear from the ComCo's communiqué which company the alternative prospective buyer was. The Competition Commission merely wrote that the prospective buyer had many years of experience in the postal services sector.
"Liberalization has failed"
In a statement, the Quickmail Group expressed its shock at the Weko's decision. The solution negotiated with Swiss Post would have brought stability and continuity to both employees and customers. Instead, 3000 jobs are now at risk.
The company voiced fundamental criticism. The liberalization of the postal market in Switzerland had failed. This is because Swiss Post's residual monopoly in the letter market has ultimately led to a cut-throat battle with unequal competition - while at the same time letter volumes are continuing to fall.
Swiss Post signed the purchase agreement for Quickmail and Quickpac in July. The decision of the Competition Commission has been noted, is regretted and will now be analyzed in depth. The aim of the takeover would have been to ensure seamless operations for customers, according to Swiss Post.
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