TPG won't partner with Belgian Post
TPG, the Dutch logistics company, said it has no current plans for a partnership with the Belgian post office. The chief executive of publicly-owned De Post/La Poste said his struggling company is looking for a partner to help it modernize.
“I’m not naming names but it is clear that De Post is years behind the postal companies in the Netherlands and Germany,” said Johnny Thijs in an article published Friday in the Belgian daily De Standaard.
Thijs named TPG and Deutsche Post World Net of Germany as likely partners.
But a TPG spokesman told Reuters that despite regular contact it was currently not in talks with the Belgian company.
A spokesman for Deutsche Post said it was only interested in stakes in companies with healthy financial figures, the wire service reported.
The Belgian postal service had a net loss of 47 million euros ($53 million) in 2002, from a profit of $44 million in 2001, on slowing sales growth and rising costs.
The European Commission last month approved Brussels’ investment of $335 million in the postal service.
