Aggressive hedge funds target TNT: FD

Tuesday 08 December 2009

Aggressive hedge fund Jana Partners and Canadian asset manager Aimco have taken a 5% stake in Dutch postal firm TNT, the Financieele Dagblad reports on Tuesday, quoting 'financial world sources'.

The stake has been built up since last Thursday, when TNT announced a strategy rethink to focus on express delivery services, the paper said.

The paper says it is not clear what Jana and Aimco's aim is, but that an obvious move would be to press for the break-up of the group into two arms: post and express.

'Many activist shareholders believe that value can be created by splitting up TNT into mail and express because a standalone express business would make an acquisition of TNT much easier,' ING analyst Axel Funhoff told Reuters.

© DutchNews.nl

Comments have been closed for this article.