Global express and mail
service provider TNT announced yesterday it has completed the acquisition of
Hoau Group, China's private freight and parcels delivery firm.
The US$135 million deal is expected to give TNT a competitive road transport
capability in China, the Dutch company said. Hoau's network includes 1,100
depots, 3,000 vehicles and 56 hubs in China covering all major and second-tier
cities, it said.
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