Wednesday 26th Oct 2016 - Logistics Manager

PostNL sells half its stake in TNT Express

PostNL, the Dutch post office, has sold about half of its 30 per cent shareholding in TNT Express for €507 million.

The move leaves it with a 14.8 per cent stake in the business.

TNT Express was demerged from PostNL in May 2011. However, PostNL retained a 29.8 per cent stake.

It will use the cash to reduce its debt.