News / TNT gets set for Chinese exit after posting 4Q 2012 loss

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Mergers and acquisitions don’t seem to be going TNT’s way at the moment. The troubled express company this morning released its fourth quarter results, and while its operating losses have lessened ? now down to just €81m from €272m last year  (see below for the figures at a glance) ? it expressed disappointment with the failure of its proposed merger with UPS, and confirmed plans to sell off its Chinese domestic operation. It also said that, despite some improvement, it ...