Belgium’s Wallonia May Buy Stake In TNT’s Air Operations

Discussion in 'The Latest UPS Headlines' started by cheryl, Jul 20, 2012.

  1. cheryl

    cheryl I started this. Staff Member

    Belgium’s Wallonia May Buy Stake In TNT’s Air Operations - Bloomberg

    The Belgian region of Wallonia is looking at buying a stake in TNT Airways to retain the cargo carrier’s European status and safeguard operations following the 5.16 billion-euro ($6.3 billion) purchase of parent TNT Express NV (TNTE) by United Parcel Service Inc. (UPS), a union official said.

    The acquisition of Hoofddorp, Netherlands-based TNT by UPS, which has its headquarters in Atlanta, calls into question the future of TNT Air, since companies from outside the European Union may not hold stakes above 49 percent in carriers based in EU countries. The airline could retain its operating license were majority ownership to remain in local hands.