DHL 'pretty relaxed' about the UPS-TNT Express tie-up
Deutsche Post DHL CFO Lawrence Rosen, in an interview with Financial Times, stated the company expects to gain customers from UPS and TNT Express once they commence their integration, adding that he is "pretty relaxed" about the move. UPS and TNT Express, in Mar-2012, agreed to tie-up in a USD5.2 billion agreement. Mr Rosen also stated 1Q2012 was developing as expecting for the carrier, with economic strength in Asia and the US offsetting weakness in Europe. However he noted that air freight markets were sluggish due to inventory adjustments in the IT sector.