Is TNT selling its mail business?
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Various media reports are indicating that TNT, a Netherlands-based provider of mail and courier services and the fourth-largest global parcel operator, is considering spinning off its mail business. While there is nothing concrete on what the next steps would be, a Financial Times report quoted TNT CEO Peter Bakker as saying the spin-off could be completed this year, but he declined to comment on how long TNT would take to make a definitive decision on the fate of the business. Bakker also stated that talks on partnerships with rival postal companies have yet to start. While talk of a potential TNT sale has surfaced every so often over the years, J.P. Morgan analyst Tom Wadewitz added that caution needs to be exercised about reading this event as a certainty. However, he did point out that a long-term combination of TNT Express with UPS or FedEx does make sense considering the geographic strengths and weaknesses of each company.
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