Bulgaria's Speedy Seeks Regulatory Nod to Acquire Local Peer Rapido

Bulgaria's Speedy Seeks Regulatory Nod to Acquire Local Peer Rapido

Bulgaria's competition regulator said that local express delivery company Speedy [BUL:0SP] is seeking approval to acquire its peer Rapido Express and Logistics. The deal is expected to affect the non-universal postal services segment of the local market, according to a notice, published on the website of the Commission for Protection of Competition on Friday. Last month, Speedy said it has entered talks for the acquisition of Rapido Express and Logistics for between 6 million euro and 12 million euro ($7 million - $14 million).The final price of the deal depends on the financial results of Rapido Express and Logistics and will be paid in instalments for 30 months, Speedy said at the time.($ = 0.8562 euro)

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