UPS Denies Big Plans for Europe Expansion

For the second time this summer, rumors that Dutch package-delivery company TNT NV was in talks with a potential US buyer—this time UPS for $15 billion—pumped up the company’s share price, reports Bloomberg. But the rally faltered as a UPS exec shot down the reports, asking Reuters, "That rumor again?"

"I think the great opportunity for us internationally is business that never touches US shores," said the exec. In July, short-lived interest from FedEx bumped up TNT shares 26%. It's the second-largest express service in Europe, and UPS “could be a good fit,” said an analyst who also called the $15 billon price tag “absolutely insufficient.'' (More United Parcel Service Inc. stories.)