TNT eyes acquisition in Asia, mulls takeover of Royal Mail’s GLS unit
TNT NV may soon acquire a shipping company in Asia to expand its network there and is interested in taking over Royal Mail Group PLC’s unit GLS Holding, German weekly magazine Wirtschafts Woche said in a report to be published tomorrow, citing chief executive Peter Bakker.
‘The US is UPS- and Fedex-land,’ Bakker told the magazine in an interview. ‘And whoever thinks, as Deutsche Post does, he can be profitable there with a 6-8 pct market share is wrong.’
Deutsche Post World Net AG’s package delivery arm DHL last month said it does not want to chase US market share from rival UPS and Federal Express and is reining in its ambitions in North America.
Bakker also said he can imagine taking over Royal Mail’s GLS unit as an independent parcel service, adding the company is ‘looking into every interesting opportunity for an acquisition’.
