FedEx in talks to buy DHL
Updated January 24, 2008 8:54:30 PM
The JOURNAL of COMMERCE ONLINE
Deutsche Post World Net plans to sell DHL to FedEx Corp. and talks are underway, according to a report in the Financial Times Deutschland, which quoted sources familiar with the matter.
The paper quotes a manager within the company as saying that Deutsche Post Chief Executive Klaus Zumwinkel "wants to leave the company in a clean condition" when he retires in November.
Financial investment analysts project DHL may lose up to $900 million this year in the United States, where the company has struggled to mount a challenge to UPS and FedEx in the domestic parcel and express market. Deutsche Post said Wednesday it will take an $874 million writedown of the company's value.
(there is lotsa money to be made flying planes....the honest way)
Updated January 24, 2008 8:54:30 PM
The JOURNAL of COMMERCE ONLINE
Deutsche Post World Net plans to sell DHL to FedEx Corp. and talks are underway, according to a report in the Financial Times Deutschland, which quoted sources familiar with the matter.
The paper quotes a manager within the company as saying that Deutsche Post Chief Executive Klaus Zumwinkel "wants to leave the company in a clean condition" when he retires in November.
Financial investment analysts project DHL may lose up to $900 million this year in the United States, where the company has struggled to mount a challenge to UPS and FedEx in the domestic parcel and express market. Deutsche Post said Wednesday it will take an $874 million writedown of the company's value.
(there is lotsa money to be made flying planes....the honest way)
