PostNL rejects revised final proposal from bpost
PostNL has consistently compared bpost's proposals to the standalone scenario within a framework that includes key factors such as price.
The boards are not convinced that a combination of the businesses of bpost and PostNL will be successful, nor are they convinced a transaction with bpost can ultimately be realised.
The Boards are of the opinion that Belgian state influence in conjunction with a complicated governance structure at various corporate levels will make the combination inefficient and not agile to respond to its challenges.
The boards further lack conviction that the necessary transformation, including the necessary innovation, can be achieved at the required pace.
Lastly, a transaction with bpost lacks broader stakeholder and notably political support, which support is crucial to the success of the combination. ■