Sandd to buy Deutsche Post's Dutch unit Selektmail

[POSTMAN]

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DEUTSCHEPOST/SANDD (UPDATE 1)

* Deal could take some pricing pressure off TNT

* Subject to Dutch watchdog approval

* TNT shares up 2.4 percent, outperforming index

(Adds TNT, trade union comments, updates shares)

By Greg Roumeliotis

AMSTERDAM, Jan 12 (Reuters) - Dutch mail company Sandd said on Wednesday it would buy Deutsche Post's unit Selektmail, subject to regulatory approval, consolidating the Dutch postal market, where TNT dominates.

Private-equity owned Sandd, seen as a possible takeover target, said the merger of the second and third-largest mail firms in the Netherlands was expected to boost its market share from 10 percent in 2010 to 16 percent in 2011.

"Consolidation could have gone both ways but today we are announcing our acquisition of Selektmail. We will integrate the delivery networks of the two companies and continue to focus on the business market," Sandd spokesman Lukas Burgering said.

While officially the two companies are still negotiating, the only condition left for the transaction to go through is for the Dutch competition authority NMa to give the green light, which is expected in the next couple of months, Burgering said.

Deutsche Post said it was looking into strat