LONDON (Thomson Financial) - FedEx Corp is in preliminary talks to buy its Dutch rival TNT NV, the Financial Times reported without citing its sources.
The report said such a deal would bolster FedEx's European parcel network.
It said the economic downturn and rising fuel costs have hit demand for package deliveries, and led to a revival of merger discussions that have continued in starts and stops for years.
As a matter of policy, FedEx does not comment on rumours or speculation about corporate development activities, a company spokesman told the FT. tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.