TNT Aims To Strengthen Parcel Operations, Mulls Acquisitions
Dutch postal and express company TNT NV aims to strengthen its European Express activities, and could make an acquisition such as Belgian parcel service ABX, spokesman Pieter Schaffels said Friday.
TNT’s European Express is its express delivery service for packages. With an operational hub in Liege, Belgium it handles package traffic from 67 European airports.
Schaffels declined to comment on whether TNT has made a bid for ABX Logistics SA, which is part of NMBS Holding Ltd.
Earlier Friday, Belgian newspaper De Tijd reported that three European postal groups are bidding for ABX, among them U.K.’s Royal Mail, The Belgian Post Group and TNT.
Under European Union regulations, ABX must find a buyer before NMBS merges with U.K. company 3i Group PLC.
With a market share of 21%, TNT is the largest European express delivery company. Chief Executive Peter Bakker has said he wants to further strengthen the division in Europe. “We always look at takeover opportunities to achieve that,” spokesman Schaffels said.
-By Arien Stuyt, Dow Jones Newswires; +31 20 5890270; [email protected]
