UPS rules out takeover of TNT express service

United Parcel Service (UPS) will focus on small and medium-sized acquisitions in Europe, rather than attempt to take over TNT's express service, chief financial officer Kurt Kuehn told daily Boersen-Zeitung.

US delivery services company UPS aims to avoid the mistake of expanding too much too quickly, which is what happened when Deutsche Post acquired DHL, Kuehn said.

The acquisition is one reason Deutsche Post is worth around US$19.89 billion on the market, while UPS is valued at around $66.31 billion, he added.
(Source:www.cargonewsasia.com)