"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Monday, August 11, 2008

UPS to bid €10bn for TNT ?

Reader will know our views and psition on UPS (Thursday, August 07, 2008John McCain - not delivering the goods for DHL - but UPS benefits ) and therefore our interest in the Daily Telegraph story today (Monday) with the sensational headline UPS plots bid for TNT by By Louise Armitstead and Ben Harrington

They breathlessly reveal that United Parcel Service (UPS) is plotting (?) a €10bn (£7.8bn) bid for TNT who are based in Holland (listed in Amsterdam) to consolidate their global express-delivery business.Talks have been held recently .

UPS, with a market value of $66.24bn has appointed investment bank Morgan Stanley as adviser and "strategy consultants" AT Kearney who have reported to the money men on Wall Street.

TNT, (advised by Sacks of Gold) operates in 200 countries and employs 161,500 peoplewith a market value of €9.6bn,reported €11bn in revenues and operating income of €1,192m last year.

UPS' plans in buying TNT could include selling its postal division to the German Post Office ( who have already done a parcel carrying deal with UPS see post linked above) or to a private equity buyer - which seems highly unlikey. CVC, the European buyout giant,they says might be interested because they own stakes in Belgium and Danish postal service operators De Post-La Post and Post Danmark.

On Friday, TNT's shares closed at €25.36, valuing the business at €9.6bn.

Dale Jarrett drove UPS' NASCAR car very successfully for many years

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