PostNL rises as potential withdrawal from USO could be good long-term

PostNL

05/09/2025 11:25

** Shares in PostNL PNL.AS wobble in Friday trading after it requested to exit the Universal Service Obligation (USO) following a tribunal's rejection of its second bid for state support

** The Dutch postal operator's shares rise about 2%, having initially fallen as much in early trading

** The decision highlights PostNL's dissatisfaction and increases pressure on the Dutch government to reconsider the current terms, Michiel Declercq from KBC Securities says

** The broker adds that losing USO mail volumes, which account for around 15% of total mail, could negatively affect PostNL's short-term operating leverage but "it will provide them greater flexibility in the long term to deliver the mail as they please, hereby generating efficiencies"

** The Dutch government has no intention to withdraw PostNL from the Universal Service Obligation, but will look for ways to modernize the regulations, a spokesperson for the ministry of Economic Affairs said

 (Reporting by Olivier Cherfan)

 ((olivier.cherfan@thomsonreuters.com))