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Monday, February 18, 2013

TNT Express plans disposals after further losses, (NYSE: UPS)

TNT Express, whose $7 billion takeover by United Parcel Service was blocked last month, reported a further loss on Monday, saying it would sell units in Brazil and China and cut costs as it prepares for a future alone.The Dutch package delivery firm does not expect offers from other rivals given regulators' concerns about competition in Europe, and is not a break-up target, its interim chief executive said on Monday."We've cleansed ourselves of all that speculation, all this is now behind us," Bernard Bot told reporters on a conference call, adding the company envisioned a "standalone future.""We are keenly aware that further urgent improvements are required," he said, adding that the company would announce its strategy on March 25.

United Parcel Service, Inc. (UPS) is a package delivery company that operates in the United States less-than-truckload industry, and the provider of global supply chain management solutions. Shares of UPS traded higher by 0.96% or $0.79/share to $83.48. In the past year, the shares have traded as low as $69.56 and as high as $84.11. On average, 3787200 shares of UPS exchange hands on a given day and today's volume is recorded at 4983275.