No Royal Mail bid from TNT

TNT has said it had not yet made a bid for Britain’s Royal Mail, but said it was interested in the company and would consult shareholders if it does make an offer, reports Reuters.

TNT has said it had not yet made a bid for Britain’s Royal Mail, but said it was interested in the company and would consult shareholders if it does make an offer, reports Reuters.

The news agency continues:

British newspaper Sunday Telegraph earlier reported private equity group CVC Partners offered to pay just under £2bn ($3.2 bn) for a 30% stake in state-owned Royal Mail, adding the bid was higher than a rival offer from TNT but below the government’s original target.

“That is not correct. We have a strict obligation to inform our shareholders up front if we are going to make a bid. That’s what we will do – if we are to make a bid we will first seek approval from shareholders,” TNT spokesman Ernst Moeksis said.

Moeksis said TNT is still interested in pursuing Royal Mail and added that talks with the British government are ongoing.

“We’ve constantly confirmed our interest, but the process is not at the bid stage as far as we know,” he said.

“We had several talks from the moment we made our interest publicly, but can’t elaborate. These are talks between TNT and the British government.”