TNT Express to Refocus on Europe Operations as Losses Mount - BusinessWeek

TNT Express NV, the Dutch express- delivery service in takeover talks with United Parcel Service Inc., said it will refocus operations on Europe as financial losses mounted.

The 2011 operating loss at Europe's second-largest express- delivery service was 105 million euros ($139 million) compared with earnings before interest and taxes of 180 million euros a year earlier, the Hoofddorp, Netherlands-based company said today. Sales climbed 2.7 percent to 7.25 billion euros.

TNT Express, which was spun off from the former Dutch national postal operator in May, will seek cooperation agreements with airlines to carry goods outside Europe and partnerships to provide services in China and Brazil. TNT Express is in talks with UPS after rejecting a 4.89 billion-euro offer on Feb. 11 from the Atlanta-based company.

For more: TNT Express to Refocus on Europe Operations as Losses Mount - BusinessWeek