TNT to be split up

26th May 2011, Comments 0 comments

The shareholders of Dutch postal company and express delivery service TNT on Wednesday approved a proposal to split the company up in two separate businesses.

TNT’s postal activities will in future be carried out by PostNL. The express delivery service will continue as TNT express. Both companies will be listed at the Amsterdam stock exchange.

TNT announced the intended split last year following strong pressure from its shareholders. The post and express service activities reportedly had too little in common to justify their continued existence in one company.

A 99.7-percent majority of shareholders approved the proposed split during Wednesday’s special shareholders meeting. TNT Chairman of the Board Peter Bakker said the split would produce “two strong companies with solid structures under strong management.”

© Radio Netherlands Worldwide

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