The European Commission has approved the merger of the Swedish and Danish post offices.
But, the commission said Tuesday, they have to sell off their Danish parcel delivery service to avoid antitrust concerns. The new company, controlled jointly by the governments of the two countries, will be headquartered in Stockholm. It will have an annual turnover of nearly 8 billion dollars, with 50,000 employees.
The deal is the first such merger in Europe between former state-owned postal monopolies.