PostNL sells half its stake in TNT Express

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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.

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