Dutch postal firm TNT has expressed doubts over its bid to buy a stake in Royal Mail.
Investors at the postal operator, which is a frontrunner in the race to stake a claim in Royal Mail, said that purchasing a 30 per cent share would leave the company without an exit strategy, according to the Financial Times.
TNT investors also stated that a 30 per cent share would give an insufficient level of control necessary to bring about significant changes to Royal Mail.
Speaking to the Financial Times, one investor commented: “We would rather [TNT] survived the recession in reasonable shape than getting involved in an acquisition at this stage of the economic cycle.”
Jan Keuppens, portfolio manager at Robeco, one of TNT’s top 15 shareholders added that “uncertaincies” about prices mean the chances of a deal with Royal Mail going through are “small”.
The government is currently in the process of introducing new legislation which could see almost half of Royal Mail sold to the private sector as part of a “strategic partnership”.