TNT sceptical it can find buyer for mail operations if it decides to exit Germany
TNT NV is sceptical it would find a buyer for its German mail operations if it decides to exit the business, chief executive Peter Bakker told Sueddeutsche Zeitung.
TNT is considering exiting the German mail business as its margins are under pressure by the introduction of minimum wages paid at incumbent Deutsche Post World Net AG.
PIN Group, a German group of regional mail companies, is currently looking for a buyer.
‘But the fact that a large number of its companies has filed for insolvency doesn’t leave me very optimistic’, Bakker said.
Bakker said TNT has raised hourly wages to 7.50 eur from around 7.30 eur previously, but can not afford to pay the mandatory 9.80 eur minimum wage.
TNT previously said it would have to write off some 80 mln eur, if it closes its German mail operations without finding a buyer.
TNT NV is sceptical it would find a buyer for its German mail operations if it decides to exit the business, chief executive Peter Bakker told Sueddeutsche Zeitung.
TNT is considering exiting the German mail business as its margins are under pressure by the introduction of minimum wages paid at incumbent Deutsche Post World Net AG.
PIN Group, a German group of regional mail companies, is currently looking for a buyer.
‘But the fact that a large number of its companies has filed for insolvency doesn’t leave me very optimistic’, Bakker said.
Bakker said TNT has raised hourly wages to 7.50 eur from around 7.30 eur previously, but can not afford to pay the mandatory 9.80 eur minimum wage.
TNT previously said it would have to write off some 80 mln eur, if it closes its German mail operations without finding a buyer.
