PostNL denies Royal Mail takeover talk

[TrueBlueTerrier]

http://www.joc.com/international-logist ... 51229.html" onclick="window.open(this.href);return false;

PostNL, the Netherlands postal and parcel delivery company, has dismissed reports that it in discussions with Royal Mail over a takeover by its U.K. rival.

Other Europe post companies, including Germany’s Deutsche Post DHL, have also been linked to a possible offer for PostNL, which split from TNT Express in 2011.

Royal Mail is said to be weighing a 2.2 billion euro ($2.4 billion) offer for PostNL, which would be the company’s biggest takeover since it was privatized and listed on the London stock exchange in October 2013.

PostNL is an attractive target for Europe companies seeking to boost their delivery services after the firm said it processed and delivered 30 percent more parcels on Dec. 22 compared with the same day in 2014.

Amsterdam-listed PostNL posted a pre-tax profit of 309 million euros on revenues of 4.3 billion euros in 2014.

Royal Mail boosted its 2014-15 operating profit after restructuring costs by 6 percent to 740 million pounds ($1.1 billion) on revenue up 1 percent at 9.4 billion pounds.

GLS, Royal Mail’s pan-Europe parcels unit, booked an operating profit of 115 million pounds, up from 108 million pounds in the previous year and grew revenue by 7 percent to 1.65 billion pounds