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FINANCIAL NEWS
FedEx rebuffs Aramex acquisition reports
05 Oct 2010
(MENAFN) Senior vice president of FedEx Express Middle East, Hamdi Othman, denied reports circulated in the media recently regarding the global logistics company intent to acquire the foreign ownership shares of Aramex, Gulf News reported.
FedEx said that such acquisition would be meaningless in the sense that it would add no value to the company’s existing services.
Othman’s comments were made after the company had announced the opening of a next-business-day domestic express service in the UAE, where it is going to enable costumers to mail packages to any address within the country and is also going to have online tracking and tracing systems.
FedEx provides access to a growing global marketplace through a network of supply chain, transportation, business and related information services.
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