The Dutch government has sold its remaining 10.9% stake in post and express mail company TNT.
TNT itself bought back a 4.3% interest for some €600m. The rest went to US banks Citibank and UBS and will be sold on via the open market. The total sale generated €1.5bn for the treasury. ‘This sale completes the privatisation of TNT,’ finance minister Gerrit Zalm said in a statement. The privatisation process of the company (then called PTT) began in 1989.
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