Post Office ‘majority shareholder’ says State is welcome to invest

At a time when ‘everyone’s talking about re-nationalisation of the Post Office’, Manuel Champalimaud – majority shareholder of Grupo CTT – has said the State is “welcome” to become an investor.

Champalimaud was talking to Expresso in the wake of the resignation of CTT’s former CEO Francisco Lacerda.

Incoming CEO João Bento is former vice-president of Grupo Manuel Champalimaud, and a man in whom Champalimaud says he has ‘confidence’.

As national media has explained, confidence is something the billionaire businessman lost in Lacerda.

Meantime, the challenges of the Post Office remain: falling profits, unmet goals, cuts in dividends and the need for ‘painful restructuring’ as populations battle to stop CTT from closing further outlets.

Champalimaud’s interview may well have been designed to open the way to negotiations with the government, but since its publication, there has been no ‘response’ from any official source.

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