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Netherlands: TNT loses almost $200M after failed UPS buyout

By  |  February 18, 2013

TNT Express is reportedly looking to divest businesses in Brazil in China as it reported a fourth-quarter loss in the wake of a blocked $7 billion merger with United Parcel Service. According to the delivery conglomerate, based in the Netherlands, the company suffered a net loss of $197.59 million and, according to its interim chief executive, the company is looking to secure the divestment of the Brazil and China endeavors. Since UPS’s bid to buy TNT failed after the European Commission blocked the deal, TNT is now set to again face a weak European market on its own.

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