Dutch mail company TNT (TNT.AS) will push ahead with spinning off its express unit in May despite the operation suffering from a higher oil price, political unrest and natural disasters. TNT is separating its express division from its moribund mail unit, hoping it can attract a buyer for the latter that is able to squeeze value from its operations in the face of ever-decreasing postal volumes. The express unit, which competes with global delivery giants UPS (UPS.N), FedEx (FDX.N), and Deutsche Post DHL (DPWGn.DE), will have a separate listing on May 26, provided TNT shareholders approve it during a meeting the day before, TNT said on Friday.
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