PostNL and TNT Express make ‘spectacular’ stock exchange debut

Shares in the two arms of TNT began trading separately in Amsterdam on Thursday as the separation into two companies is almost completed.

The Financieele Dagblad describes the first day of trading as spectacular, with TNT Express rising 9.7% to €9.45 by the close and PostNL closing down 7.4% at €7.40. TNT Express is seen as a potential takeover target.
The separation into two companies, approved by shareholders earlier this week, will be final on May 31.
The decision to split into two listed firms is a milestone in the chequered history of the Dutch state postal service which bought Australian express firm TNT in 1996 and merged it with its postal arm, PTT Post. Two years later, that company split into TPG Post and its telecoms arm KPN. In 2006 TPG Post was renamed TNT Post.
TNT’s mail activities are focused on the Netherlands, Germany, Italy and the UK. The express company will focus on fast delivery and freight.

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