DHL Express
Deutsche Post AG’s (DPWGn.DE) courier service venture in China is nearing a partnership agreement with a domestic express delivery firm, APEX, a spokeswoman with the venture has said.
‘DHL-Sinotrans is in detailed talks with APEX to form a partnership and the two parties are not far from a final deal,’ the spokeswoman with DHL-Sinotrans International Air Courier told Reuters.
She declined to specify the nature of the partnership, but did not rule out an equity tie.
The Economic Observer, a Chinese financial newspaper, has reported DHL-Sinotrans plan to take control of APEX for RMB300 million($43.87 million), citing an unidentified source. However, an executive with APEX said the two sides were only exploring business cooperation.
DHL Express competes with United Parcel Service (UPS.N), FedEx Corp (FDX.N) and others for China’s express delivery market.
APEX is one of China’s biggest private express delivery firms, offering services in the country as well as to Hong Kong, Taiwan, South Korea and other parts of the world, it said on its website.