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2/19/2013 9:00:00 AM Write a Letter to the Editor Write a letter to the Editor

TNT Express Reports 4Q Loss

European package carrier TNT Express reported a fourth-quarter loss and said it would sell units in Brazil and in China, Reuters reported.

TNT lost about $198 million, compared with a loss of $230 million a year earlier. Revenue was flat at about $2.5 billion. Amsterdam-based TNT reports its earnings in euros.

UPS Inc. last month called off its nine-month attempt to acquire TNT for about $6.8 billion after European regulators moved to block the deal.

TNT declined to give financial details of its China and Brazil businesses, but analysts have said in the past that its Chinese business was too small to compete effectively, Reuters reported.

Its Brazilian business has been a burden for several years, posting an operating loss of about $97 million last year, Reuters said.

By Transport Topics

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