Special Report HomeShopping Marketing Direct March 2006
Special Report HomeShopping Marketing Direct March 2006
Read MoreTag: Courier/Express/Parcels
Geber, Blackstone give up plans to take over TNT
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.
Read MoreTNT counts the cost of resolving tax problems
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.
Read MoreOvernite becomes UPS Freight
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.
Read MoreSpanish courier firm Tourline Express grows 30% in 2005
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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