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Poste Italiane withstand the competition from Amazon: CEO

FILE PHOTO: Poste Italiane CEO Matteo Del Fante poses for a picture in Milan, Italy, on February 27, 2018. REUTERS/Francesca Landini

MILAN (Reuters) – Poste Italiane again competition of Amazon.com in the delivery of goods, the chief executive of the former Italian post office monopoly said on Friday.

Last month, the Italian government has formally recognized the AMERICAN e-commerce giant to work as a postal company in the country through its subsidiaries Amazon Italia Logistics and Amazon Italia Transport.

“They can compete with us on some segments, but Poste has big enough shoulders to the competition,” Matteo Del Fante said on the sidelines of an event in Milan, adding that Poste serves a more widespread network.

In June Poste and Amazon signed a three-year agreement allowing e-commerce products that are purchased through the Amazon platform will be delivered in the late hours or in the weekend.

“The market is growing, there is room for everyone, we are not afraid of the competition,” Del Fante said.

In its industrial plan, Poste is focused on growth in package sales from 70 percent to 1.2 billion euros ($1.35 billion) by 2022.

Reporting by Giulio Piovaccari; Editing by Jan Harvey

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