TNT plans decision on freight unit shortly
TNT plans to announce a decision shortly on its future strategy for its Freight Management unit, with disinvestment as one of several options under consideration.
The Dutch group announced earlier this year that it was reviewing synergies between its Freight and Express businesses following the decision to sell TNT Logistics and focus on mail and express activities.
Dutch newspaper Het Financieele Dagblad cited TNT CEO Peter Bakker as saying that the company was still reviewing “all options” for TNT Freight Management. A decision was due to be announced by October 30 when TNT will announce its third-quarter financial results.
TNT Freight Management was formerly known as Wilson, the Swedish freight forwarding company acquired by TNT in 2004 for euro 257 million. It was transferred from the Logistics to the Express division as part of TNT’s plan to dispose of its underperforming logistics business.
