FedEx buyout would see TNT airline divested

The airline operations of Dutch cargo firm TNT Express will be sold off if the planned takeover by US rival FedEx goes ahead.

The airline operations of Dutch cargo firm TNT Express will be sold off if the planned takeover by US rival FedEx goes ahead.

The firms announced yesterday (April 7) that they had come to a “conditional agreement” which would see FedEx pay TNT Express shareholders a total of €4.4bn ($4.8bn) for the company.

The agreement has been backed by PostNL, which owns 14.7 per cent of TNT Express’ shares, and is expected to be closed in the first half of next year.

If completed the takeover would see TNT Express' airline operations divested “to address applicable airline ownership regulations”, with FedEx confirming that it intends to incorporate TNT Express’ intercontinental air operations “where permitted”.

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