TNT N.V. separated from KPN
History
In January 1997, KPN, the government-owned postal monopoly in the Netherlands, purchased Australian based TNT Limited after completing a friendly takeover. TNT's non-core activities outside of mail, express and logistics were sold.
These included Ansett Worldwide Aviation Service to Morgan Stanley Dean Witter, the Komatsu Forklift business, the Port of Geelong and some other Australian interests to Toll Holdings, and the Sydney Monorail and Sydney light rail operation to CGEA Transport Sydney.On 25 June 1998, KPN merged its PTT Post division to form the TNT Post Group (TPG) that was listed on the Amsterdam, Frankfurt, London and New York stock exchanges.In April 1998, TPG opened its European Express Centre at Liège Airport Belgium. In October 1998, an international road hub opened in Duiven, Netherlands. In December 1998, TPG acquired French company Jet Services. In April 2005, TNT Post Group was rebranded as TNT. In November 2006, TNT sold its logistics division to Apollo Global Management, it was later rebranded CEVA Logistics.In March 2007, TNT acquired Hoau, China's private freight and parcels delivery firm. On 18 June 2007, TNT was delisted from the New York Stock Exchange. In August 2010, TNT announced its intention to float the express business as a separate company. This took effect on 31 May 2011, with TNT Express floated on the Amsterdam Stock Exchange, and TNT NV renamed PostNL.PostNL retained a 29.9% stake in TNT Express on completion of the breakup. Peter Bakker, chief executive officer of TNT since 2001, stepped down at the end of May 2011 with Harry Koorstra becoming CEO of PostNL. In April 2012, Harry Koorstra resigned after conflicts with the supervisory board. Herna Verhagen became the new CEO.
In June 2013, PostNL announced that to reduce costs in the face of declining volume, it would be eliminating Monday deliveries (accounting for only 2.6% of volume), cut the number of post boxes in half, and reduce the number of post offices from around 2,500 to about 1,000. From 2012 to 2013, the organization reduced the number of mail processing locations from 260 to 145.