Royal Mail, PostNL M&A May Have 70% Upside for Both: MainFirst
2015-01-26 15:44:05.415 GMT
By Gaurav Panchal
(Bloomberg) -- A Royal Mail, PostNL merger,may lead to
valuation upside of up to 70% for both, create a far more
investable entity, MainFirst analyst Tobias Sittig says in a
note ‘examining the implications of a potential merger.’
* Royal Mail would gain much-needed expertise in building
state-of-the-art parcel network, deal a blow to mail
competition and strengthen GLS: Sittig
* PostNL would shore up its balance sheet, gain growth
angle beyond currently challenged Benelux niche: Sittig
* GLS, PostNL parcels a good fit in Benelux: MainFirst
* Says PostNL’s 15% stake in TNT is only a burden for PostNL
* TNT stake may be an interesting bargaining chip for
future consolidation of Europe market for larger entity:
Sittig
* TNT stake may be an interesting bargaining chip for
future consolidation of Europe market for larger entity:
Sittig</li></ul>
* Says with Dutch, U.K. regulatory reviews pending, U.K.
elections in May, any consolidation move unlikely before 2H
* MainFirst has outperform ratings on PostNL, Royal Mail
* Jan. 2013: UPS’s Aborted TNT Takeover Bid Formally Blocked
by EU Regulators
* Oct. 2005: Royal Mail pushed by govt to sell GLS arm, got
approaches from FedEx, UPS, TNT: Telegraph
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Gaurav Panchal in London at +44-20-3525-0511 or
gpanchal2@bloomberg.net
Gaurav Panchal
2015-01-26 15:44:05.415 GMT
By Gaurav Panchal
(Bloomberg) -- A Royal Mail, PostNL merger,may lead to
valuation upside of up to 70% for both, create a far more
investable entity, MainFirst analyst Tobias Sittig says in a
note ‘examining the implications of a potential merger.’
* Royal Mail would gain much-needed expertise in building
state-of-the-art parcel network, deal a blow to mail
competition and strengthen GLS: Sittig
* PostNL would shore up its balance sheet, gain growth
angle beyond currently challenged Benelux niche: Sittig
* GLS, PostNL parcels a good fit in Benelux: MainFirst
* Says PostNL’s 15% stake in TNT is only a burden for PostNL
* TNT stake may be an interesting bargaining chip for
future consolidation of Europe market for larger entity:
Sittig
* TNT stake may be an interesting bargaining chip for
future consolidation of Europe market for larger entity:
Sittig</li></ul>
* Says with Dutch, U.K. regulatory reviews pending, U.K.
elections in May, any consolidation move unlikely before 2H
* MainFirst has outperform ratings on PostNL, Royal Mail
* Jan. 2013: UPS’s Aborted TNT Takeover Bid Formally Blocked
by EU Regulators
* Oct. 2005: Royal Mail pushed by govt to sell GLS arm, got
approaches from FedEx, UPS, TNT: Telegraph
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Gaurav Panchal in London at +44-20-3525-0511 or
gpanchal2@bloomberg.net
Gaurav Panchal