Business Activities News
- TNT wins approval to acquire Hoau
Date: 16-Mar-2007 Sources: (Shenzhen Daily)
DUTCH mail group TNT said Wednesday it has won the approval from the Chinese Government to take over Hoau Group, a privately owned Chinese freight forwarder.
TNT, which competes with Deutsche Post's DHL Express and others in China's fast-growing market, signed a deal to acquire Hoau in September 2006 following an initial agreement earlier that year. No financial details of the transaction were provided.
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