CTT Correios de Portugal explained

CTT – Correios de Portugal, S.A.
Type:	Sociedade Anónima
Traded As:	PSI-20 component
Founded:	6 November 1520 as Correio Público
Location:	Lisbon, Portugal
Key People:	João Bento, CEO (Since 2019)
Industry:	Mail

CTT – Correios de Portugal, S.A. is a Portuguese company that operates as both the national postal service of Portugal and a commercial group with subsidiaries operating in banking, e-commerce, and other postal services. It was founded in 1520 by King Manuel I of Portugal, during the Portuguese Renaissance, and CTT is the oldest company still in operation in Portugal to this day.^[1]

The acronym CTT comes from the company's former name (Portuguese: '''Correios, Telégrafos e Telefones''', which means "Post, Telegraph and Telephone"), which was also the designation of postal services for the former Portuguese Colonies and is still used for CTT – Post of Macau today.

In 1991, CTT became a public limited company, and in December 2013 its shares were listed on Euronext Lisbon.^[2]

In 2007, CTT began to offer a mobile phone service in Portugal, under the brand name Phone-ix. Phone-ix was closed down on 1 January 2019.^[3]

In 2014, CTT was privatized by the Portuguese government to raise money and comply with European Union requirements for its bailout. In the previous year, 70% of the CTT shares had already been tendered.^[4]

Its current and longest-running visual identity (that were introduced on 4 October 2004) were receiving subsequent redesigns in July 2015 and March 2020, but its logo (the current one that were introduced on 4 October 2004) remains virtually unchanged.

History

• 1520: King Manuel I creates the public mail service of Portugal, the Correio Público—Public Post Office.
• 1533: The first postal service regulations in Portugal.
• 1753: The first financial mail regulations in Portugal.
• 1821: The beginning of house-to-house mail delivery in Portugal.
• 1880: The fusion of the Post Office and the Telegraphs Department into a single service, the Department of Posts, Telegraphs and Lighthouses—Direcção-Geral de Correios, Telégraphos e Faróis.
• 1911: the department received administrative and financial autonomy from the Portuguese State and became the General Administration of Posts, Telegraphs and Telephones—Administração-Geral dos Correios, Telégrafos e Telefones—adopting the CTT acronym which was kept until today, even after several changes of its official name.
• 1953: CTT adopts the horse rider logo. The logo represents an ancient postman rider of the CTT, announcing his arrival with a bugle. The logo was redesigned three times, most recently in 2004.
• 1969: CTT becomes a State Company, adopting the name CTT Correios e Telecomunicações de Portugal—CTT Posts and Telecommunications of Portugal.
• 1992: the telecommunications service is separated from the CTT, becoming an autonomous company. At the same time, CTT becomes a public limited company (with all shares owned by the Portuguese government), adopting the name CTT Correios de Portugal—CTT Posts of Portugal.
• 30 November 2007: CTT launches Phone-ix, a mobile virtual network operator (MVNO) operating on the MEO network.
• 2014: the CTT becomes an entirely private company.
• 1 January 2019: CTT closes down Phone-ix.

The CTT group

The CTT group includes the following subsidiaries:

• CTT Correios: national and international regular mail delivering company;
• CTT Expresso: national and international express mail service;
• Mailtec: management and information systems research & development company;
• PostContacto: non addressed mail delivering company;
• Campos Envelopagem: direct marketing and editorial mail company;
• PayShop: utility services pay net service;
• Phone-ix: mobile communications operator;
• Tourline Express: express mail service (Spain).

See also

• Postal Union of the Americas, Spain and Portugal

External links

• CTT official website

Notes and References

1. Web site: CTT: Portugal's postal services, rates, and postal codes Expatica. 2021-03-10. Expat Guide to Portugal Expatica. en-US.
2. Web site: Archived copy . 2014-04-21 . dead . https://web.archive.org/web/20140423042149/http://www.ctt.pt/fectt/export/download/investidores/Offering_Memorandum.pdf . 2014-04-23 .
3. . CTT mobile telephone service to cease on 1 January . Portugal . Anacom . 2019-01-04 . 2021-03-09.
4. Web site: The Portuguese government completes privatization of CTT Group . www.idstrac.com . dead . https://web.archive.org/web/20151013002430/http://www.idstrac.com/Blog/the-portuguese-government-completes-privatization-of-ctt-group . 2015-10-13.