SNCF is poised to announce that it is relinquishing control of loss-making parcel delivery arm Sernam through a managment buy-out. The French state rail operator had invited offers for the company, through a European tender issued last autumn. However, of the 20 to 30 firms that made initial enquiries, none confirmed an interest in acquiring the company, which made a loss of EUR40m in 2003.

Source: IFW

Tags: Courier/Express/Parcels, Europe, France, Sernam, SNCF