CTT announced this Thursday, March 19, that the partnership and joint venture established with DHL eCommerce Spain, exactly one year and three months ago, has now been approved by the European Commission. The strategic alliance between CTT Expresso and DHL eCommerce aims to distribute parcels in Portugal and Spain through cross-shareholdings and the combination of high-efficiency delivery networks for B2B and B2C e-commerce, including out-of-home solutions. According to CTT, the joint network will have a daily capacity exceeding one million shipments on the Iberian Peninsula, which together constitutes the fourth-largest market in Europe. The agreement also anticipates combined revenues of one billion euros and the creation of joint ventures in both countries to operationalise activities. With the EC's authorisation—an essential prerequisite—the parties are moving to the final stages of the transaction, subject to approval under the EU Foreign Subsidies Regulation (FSR) and customary closing conditions. The deal is expected to close in May of this year. Under the agreed framework, CTT Expresso acquires DHL eCommerce Portugal and a 25% stake in DHL eCommerce Spain, while DHL eCommerce obtains 25% of CTT Expresso. Both parties may subsequently increase their stakes up to a maximum of 49%. In Portugal, CTT Expresso will take over DHL eCommerce's local operations, sharing responsibility for parcel handling and distribution across the territory. In Spain, the model will be complementary: CTT Express will focus on B2C services and DHL eCommerce on B2B activities. CTT CEO João Bento highlighted that the partnership combines experience and shared values in the parcel logistics sector, allowing CTT Expresso to accelerate its growth and strengthen its position on the Iberian Peninsula. Pablo Ciano, CEO of DHL eCommerce, noted that the alliance aims to create a high-performance network that offers quality, reliability, and value to B2B and B2C customers in both markets. CTT is investing two million euros and creating 350 jobs with a new centre in Rio de Mouro.