TNT in talks with Holtzbrinck
TNT said on 19 May it was in talks with the German publishing house Georg von Holtzbrinck about forming a possible distribution partnership.
TNT said on 19 May it was in talks with the German publishing house Georg von Holtzbrinck about forming a possible distribution partnership.
“Although there is still no level playing field in the German postal market, due to the ongoing uncertainties regarding minimum wage and VAT, TNT remains interested to strengthen its current position,” TNT said in a statement.
German business daily Financial Times Deutschland had earlier reported, citing no sources, that the family-owned company Holtzbrinck was looking for a partner for its post business and was in negotiations with Dutch TNT.
The report added TNT would get 50% of Berlin-based PIN Mail and 25% each of Holtzbrinck’s other regional postal services.
“We are in the midst of talks to see how a transaction can take shape,” TNT spokesman Ernst Moeksis said. “The scenarios involve a partnership, using networks or taking a part in a company.”
TNT has been battling against what it says is unfair competition in Germany, where Deutsche Post enjoys an exemption on VAT payments. TNT is also locked in a dispute over minimum wage requirements in Germany.
But the spokesman said a partnership with Holtzbrinck would help TNT protect its investment in Germany as it could use Holtzbrinck’s network, boosting TNT’s own postal service.
TNT has previously raised concerns about its investment in the country.
