DHL Group has declared itself out of the running for acquiring DB Schenker following much speculation over which company will buy the freight forwarder.
The German logistics company's chief executive Tobias Meyer said on March 6 that DB Schenker was determined 'not a good fit' for the business on evaluation.
'We have a lot of things that we can invest in. We're very interested in the e-commerce space, so we just didn't see Schenker as a good fit for us. There will be others who are interested, but as dhl Group we have better ways to deploy capital for our shareholders,' Mr Meyer told CNBC.
He added that the Group's current net debt, which he attributed to leases of warehouses globally, is not expected to be a barrier to any future acquisitions it is interested in making.
DHL has long been considered a potential buyer of DB Schenker following ongoing rumours of its potential sale before it was officially on the market.
Former DP DHL chief executive Frank Appel said in March 2022 that DHL would examine the potential of buying DB Schenker, but any deal must meet three criteria: 'Does that company make DHL better, is it easy to integrate and is it accretive?
'If these three questions are answered, yes, then we probably would put in a bid. If one of these questions is answered, no, we will not put a bid in.'
Other companies rumoured to be interested include MSC, DSV, UPS, DP World and Abu Dhabi Ports, reports London's Air Cargo News.
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The German logistics company's chief executive Tobias Meyer said on March 6 that DB Schenker was determined 'not a good fit' for the business on evaluation.
'We have a lot of things that we can invest in. We're very interested in the e-commerce space, so we just didn't see Schenker as a good fit for us. There will be others who are interested, but as dhl Group we have better ways to deploy capital for our shareholders,' Mr Meyer told CNBC.
He added that the Group's current net debt, which he attributed to leases of warehouses globally, is not expected to be a barrier to any future acquisitions it is interested in making.
DHL has long been considered a potential buyer of DB Schenker following ongoing rumours of its potential sale before it was officially on the market.
Former DP DHL chief executive Frank Appel said in March 2022 that DHL would examine the potential of buying DB Schenker, but any deal must meet three criteria: 'Does that company make DHL better, is it easy to integrate and is it accretive?
'If these three questions are answered, yes, then we probably would put in a bid. If one of these questions is answered, no, we will not put a bid in.'
Other companies rumoured to be interested include MSC, DSV, UPS, DP World and Abu Dhabi Ports, reports London's Air Cargo News.
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