TNT NV has completed 83.5 pct of its share buyback programme, the company said on March 29, 2006. TNT plans to cancel the repurchased shares. The company announced in December 2005 its plans to buy back own shares for 1.0 bln euro (USD1.2 bln). The company said then it expected the share buyback programme to involve 42.6 million shares and to take about four months. That period is now extended by one month.
Read MoreDutch postal company TNT NV wants to expand in Germany, grabbing some of Deutsche Post World Net AG’s market share in mail delivery, board member Harry Koorstra told Frankfurter Allgemeine Zeitung. The company wants to set up logistics centres in Munich and Berlin and is also not ruling out acquisitions.
TNT is already present in Frankfurt, Stuttgart, Hamburg, and most recently in the Ruhr Basin. ‘If we have the densely populated areas, we’ll have the German market,’ Koorstra said. With this move, the company is preparing for the liberalisation of the German mail delivery business in 2008. In the longer term, Koorstra thinks Deutsche Post’s market share will decline to around 70 pct from today’s 95 pct, and he thinks Germany can only cater to three competitors if it is to be profitable.
Banco Postal, the banking unit of Portugal’s post operator CTT-Correios de Portugal, will start operations in 2007, local business daily Diario Economico reported on March 28, 2006. The basic structure of the new post bank will be established in 2006. Initially, banking services will be provided through 100 offices. The objective is to attain national coverage as soon as possible, CTT president Luis Nazare said.
Read MoreThe Czech unit of express delivery services provider TNT Express raised sales by 34 percent to EUR25m, or some Kc720m last year, CEO Petr Chvatal told a press conference today. The plan for this year hovers around Kc900m. The company wants to exceed the Kc1bn level in the near future, he added. TNT, which delivered the first consignment in the Czech Republic 14 years ago, employs 300 people and operates 150 cars at present.
Read MoreForwarding and logistics company Sandrair International has linked up with Pallet Track member Circle Express to provide its UK customers with guaranteed next-day deliveries on palletised import and export consignments.
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