Sponsored by
UPS dynamites talk of TNT bid
MARKET CHATTER
UNITED Parcel Service (UPS) yesterday quashed weekend rumours that it was planning a $15 billion (7.8bn) takeover bid for smaller rival TNT.
"That rumour again?" said Dan Brutto, president of UPS's international business, who added that a takeover of the Dutch company would devalue the US giant's shares.
Instead, Brutto said he wanted to buy a Chinese company and increase the number of UPS staff in China by 1,000 each year.
Speaking at the Olympics in Beijing, Brutto added: "US consumers are not buying, but I think the great opportunity for us internationally is business that never touches US shores. You could say UPS China should really have 25,000 employees. The business is out there."
UPS currently has around 5,300 employees in China.
Email to a friend
Print this page- Family mourn death of Glasgow ‘fight’ schoolboy
- Rangers takeover: Duff & Phelps threaten legal action against BBC
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Rangers administration: Fans fear Duff & Phelps claims could scare off Green
- Rangers takeover: triple penalty punishment enough, says Johnston
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Scottish independence: SNP flip-flops over Nato
- Scottish Independence: SNP ‘won’t be Yes campaign’s only voice’
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Scottish independence: ‘People here are best qualified to run Scotland’
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Saturday 26 May 2012
Today
Sunny
Temperature: 9 C to 20 C
Wind Speed: 16 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 12 C to 22 C
Wind Speed: 10 mph
Wind direction: North east
