Author: Archive

Geber, Blackstone give up plans to take over TNT

Posted by | Feb 28, 2006 | |

German private equity investor Cornelius Geber and US private equity group Blackstone have abandoned plans to take over TNT NV, the Frankfurter Allgemeine Zeitung reported, citing unnamed sources. They decided to drop them after news of the takeover plans caused TNT’s share price to surge 40 pct to around 28 eur, the paper said. It added Blackstone halted the bid after information about the plans reached the public prematurely and as hedge funds became involved.

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Deutsche Post expands service range

Posted by | Feb 28, 2006 | |

Deutsche Post is now active in domestic energy and water metering data management services for more than 70 energy suppliers. Customers are required to read their own meters, while the postal service operator is responsible for ensuring that reminders be printed and that they reach customers, as well as for address research for returned mail, resending and billing. Deutsche Post is seeking to balance the effects of the deregulation of the German mail market, as it will lose its monopoly on light mail at the end of 2007. However, as light mail delivery provides the bulk of its business, the group is still aiming to hold earnings from this area of activity at around 2bn euros. It is therefore pinning its hopes on new services related to postcard and letter deliveries, such as document management, and on international letter deliveries.

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UK Royal Mail First Class service remains at target-beating levels

Posted by | Feb 28, 2006 | |

Royal Mail’s First Class service remains at target-beating levels, with 94% of First Class stamped letters arriving the day after posting between October and December last year, it was announced today. This is well ahead of the 93% national target. Second Class mail also beat its 98.5% target with a 98.9% performance over the same three-month period. Both First and Second Class mail have been performing at or above target level for more than a year.

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Israel Postal Authority becomes government company

Posted by | Feb 28, 2006 | |

Israel will have a new state postal company as of Wednesday. The company will replace the Postal Authority and will be required to face competition from the private sector. Called Doar Yisrael in Hebrew, the new company aims at making profits by adding advanced new services and becoming more efficient while continuing to provide mail services to the whole population.

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TNT counts the cost of resolving tax problems

Posted by | Feb 28, 2006 | |

TNT yesterday admitted that resolving its tax issues could cost it as much as pounds 376.7 million. Following a long running investigation into the position of unnamed subsidiaries, TNT said its contingent tax liability was between pounds 102.7 million and pounds 376.7 million. Analysts’ estimates had ranged from pounds 273.9 million to pounds 547.9 million. But the firm whose said it had not received any claims from authorities and had not taken any charges against quarterly earnings. Chief executive Peter Bakker said the firm viewed the risk of a tax liability materialising below 50 per cent in each individual case, and so did not have to take a provision under new IFRS accounting rules.

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Overnite becomes UPS Freight

Posted by | Feb 28, 2006 | |

UPS today unveiled UPS Freight, marking another key step in the continued integration of Overnite Corporation into the UPS brand. Customers will begin seeing the new uniforms and newly branded trucks May 1. The rebranding includes a move to the UPS logo; new colors – a gray reminiscent of the Overnite gray combined with UPS’s signature brown, and the launch in May of a new Web site for shipping and tracking. The facilities and fleet, which includes 22,000 trailers, will be rebranded to UPS Freight over the course of several years. UPS Freight will continue to operate independently of the UPS package delivery network.

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Spanish courier firm Tourline Express grows 30% in 2005

Posted by | Feb 27, 2006 | |

Tourline Express, the Spanish courier firm bought by the Portuguese post office Correios last year, grew 30 per cent in 2005. It was the third year in a row that the Barcelona-based firm had grown at such a rate.

Tourline Express said in a statement that it increased revenues by 29.6 per cent to €105 million while its volumes rose 23 per cent to 6.1 million items. Growth was driven by the company’s geographical expansion across Spain and Portugal, it said. Tourline Express opened 37 new branches, taking its network to 284 franchise outlets.

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Emirates Post and Iran Post to boost collaboration in IT, money transfer, parcel and mail hub services

Posted by | Feb 27, 2006 | |

Emirates Post and Iran Post have signed a Memorandum of Understanding (MoU) that focuses on increased cooperation in IT, money transfer, parcel delivery and mail hub services. The MoU was signed by Mr. Mohammed Hassan Mohebiyan, Chairman of the Board & Managing Director, Iran Post, and Mr. Abdulla Al Daboos, Director General, Emirates Post, in Tehran. A separate MoU was signed with Mr. Mahmoud Hassan Zadeh, CEO and Chairman of the Board, Post Bank of Iran, to promote money transfer between the two countries.

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