TNT EXITS THE DOMESTIC CHINA EXPRESS MARKET

摘要

Just three days after TNT went public in late March with its Deliver! plan to return to profitability, the company announced that one of the plan's big steps - the sale of its domestic express businesses in China - had been taken (see p. 16 for a detailed analysis of the Deliver! plan). TNT said it had reached an agreement to sell Hoau, the Shanghai-based road delivery firm it bought in 2007, to funds managed by CITIC PE, the private equity arm of a Chinese state-owned investment company. In its announcement TNT pointed out that while it was exiting the domestic China express market, it "will continue to develop its international express delivery service to and from China."