Dutch State not likely to sell TNT stake
The Dutch Government will most probably not sell its stake in Dutch mail and logistics group TNT NV, and would possibly oppose the intended takeover of the company by a private equity investor, Belgian-Dutch Fortis Bank said on November 9, 2005.
According to Fortis Bank, the State is not very enthusiastic about the sale of TNT’s mail activities to a financial party. It would rather accept a sale of the express and the logistics operations of TNT to a third party, like United Parcel Service Inc. (UPS).
Fortis will set the advice for TNT on buy at a share price for the company of 26 euro ($30.58). TNT’s share closed 10.8 pct higher at 23 euro ($27.06) on November 9, 2005.
[Editor’s note: The Dutch government holds a stake of some 10 pct in TNT as well as a so-called golden share, that would allow it to block a bid for the company.
German private equity investor Cornelius Geber confirmed earlier on November 9, 2005 his interest in acquiring TNT. German media had announced earlier the same day that Geber had been trying to form a consortium for the TNT acquisition.
TNT has been a subject of speculations for some time now, according to which the company could be a takeover target. The mentioned takeover candidates include German competitor Deutsche Post and the U.S. United Parcel Service Inc. (UPS), the Dutch News Digest reported on November 9, 2005.]
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