Estonia, Markets and Companies, Mergers and take-overs, Post Office, Transport

Ekspress Post belongs in equal shares to Eesti Meedia and Ekspress Grupp.

Ekspress Grupp said in a bourse release that its sells its stake for EUR 2.26 million.

Final sales-purchase contracts will be signed after consolidation permission is received from the Competition Board.

Eesti Post board member Aavo Kärmas said that Express Post will continue as a separate company. Kärmas said that buying the firm enables to make Eesti Post’s home delivery service more effective.

AS Eesti Meedia board member Toomas Issak said that the transaction enables to preserve home delivery of newspapers with high quality and effectiveness in longer perspective.

AS Ekspress Grupp board chairman Gunar Kobin said that Ekspress Grupp's wish to assign the shareholding follows the group's strategy to increasingly focus on digital media. Consequently, AS Express Post's strategic value for AS Ekpress Grupp decreases.