UPS Denies Big Plans for Europe Expansion

Delivery giant eyeing China, not Dutch company, exec says
By Jim O'Neill,  Newser User
Posted Aug 11, 2008 11:02 AM CDT
Package cars line up at a stop light a block away from a distribution hub for United Parcel Service (UPS) in Miami.   (Getty Images)
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(Newser) – For the second time this summer, rumors that Dutch package-delivery company TNT NV was in talks with a potential US buyer—this time UPS for $15 billion—pumped up the company’s share price, reports Bloomberg. But the rally faltered as a UPS exec shot down the reports, asking Reuters, "That rumor again?"

"I think the great opportunity for us internationally is business that never touches US shores," said the exec. In July, short-lived interest from FedEx bumped up TNT shares 26%. It's the second-largest express service in Europe, and UPS “could be a good fit,” said an analyst who also called the $15 billon price tag “absolutely insufficient.''