UPS Anticipates European Commission to Prohibit Acquisition of TNT Express
14 January 2013 at 11:00 CET - The Hague – PostNL has taken notice of the press releases issued today by UPS and TNT Express, that indicate that the European Commission has informed UPS and TNT Express that it is working on a decision to prohibit the proposed acquisition of TNT Express. In its press release, TNT Express indicates that UPS informed TNT Express that UPS sees no realistic prospect that EC clearance can be obtained and that UPS will not pursue the transaction on any other basis.
Herna Verhagen, CEO of PostNL: "The transaction between UPS and TNT Express would have maximised the value of our stake in TNT Express. If upon a formal decision of the European Commission, the acquisition of TNT Express is not pursued, we expect that we will monetise the stake over the medium term to create better value for shareholders, after we have seen stability return to TNT Express."
As a major shareholder of TNT Express, PostNL will fill in this role in the best interests of PostNL and our shareholders. In the meantime, we will continue our daily business as planned, including the reorganisation in Mail Netherlands and the rollout of the new logistics infrastructure in Parcels.
PostNL is the inventive partner in the world of sending and receiving. We have been so for 200 years already. We are primarily active in the fields of mail, parcels and e-commerce, but we also offer services in the areas of data and document management, direct marketing and fulfilment. Outside the Netherlands, we are active in Germany, the United Kingdom, Italy, Belgium and Luxemburg. PostNL employs a total of approximately 66,000 people. In 2012 our revenues reached almost € 4.3 billion.
We like to stay ahead of things. We are the most modern postal company in the world. We are proud of that. We are an example to the rest of the world in the automatic sorting of mail, we are the first listed postal company and we are the international champion in corporate responsibility, as leader in our sector in the Dow Jones Sustainability Index 2011.