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> Bpost [...] has been on an acquisition spree

Illegal, state-funded acquisition spree. Bpost is 51% state-owned, using negative interest loans (ECB policy) for its acquisitions.

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What makes this illegal?

EU countries have agreed to privatize state companies in order to have competitive markets. If some companies can take loans at negative interest rates because of being (part) state-owned (while private companies pay market rates), and then use this money to go on an "acquisition spree", that's not fair competition. Of course that doesn't mean it's actually going to be considered illegal.

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