|Image c/o TNT Express|
In statement published last Friday, TNT Express N.V. confirmed its decision to reject an unsolicited proposal for share capital from UPS.
Since then TNT Express N.V. Supervisory and Executive Boards had discussed the matter. The talks resulted in a rejection of UPS' initial proposal.
Nevertheless, the two courier companies have stated that they will continue their discussions. However, there is no certainty about a possible outcome yet.
Source: TNT Express & UPS