UPS takes long view of Europe in making its long-awaited run at TNT

UPS believes now is the time to seize an opportunity to buy TNT Express to significantly bolster its competitive stance in Europe. UPS assures despite Europe's shaky economic state, the continent is a growth vehicle for the company, and believes it can capitalise on TNT's vast European road network. UPS also gains key access to the powerhouse of Brazil, and remains confident of TNT's success in turning around its operations in the country.

The proposed USD6.8 billion purchase of TNT by UPS is the largest acquisition in its 105-year history, and pairs well the recent investments UPS has made in expanding its Worldport hub in Louisville, Kentucky; completing a USD200 million expansion project at is Cologne, Germany hub set for completion in 2013; the 2010 opening of its intra-Asia hub in Shenzhen and the 2008 opening of its Shanghai hub, UPS CEO Scott Davis tells investors. TNT Express's air hub is located at Liege, Belgium.